Qatari representatives set for Old Trafford meeting: Sheikh Jassim bin Hamad Al Thani could table new offer today
The Glazer family’s decades-long control of Manchester United could be nearing the end if a deal can be struck with interested parties.
Representatives for Qatari banker Sheikh Jassim bin Hamad al-Thani will meet at Old Trafford today as they ramp up efforts to buy Manchester United.
Thani, a member of the Qatari royal family, is eager to take control of a major Premier League club through his Nine Two Foundation. His team will meet the club’s hierarchy on Thursday, with Thani thought to be the favoured option of current owners, the Glazer family.
The Qatari bidder would likely look to buy 100% of the English club, which has enjoyed a sporting resurgence this year under head coach Erik ten Haag.
The first bids from Thani and other interested parties are thought to have fallen far below the Glazers’ valuation of the club and the current owners have reportedly told prospective buyers of a ten-day deadline by which to have submitted their final offers.
Sir Jim Ratcliffe could also table improved Man Utd bid
Thani is currently considered the most likely candidate if the Glazers are to end their two decades in charge of England’s most successful club. However the Qatari bid is far from the only offer on the table and Sir Jim Ratcliffe, one of Britain’s richest people, has expressed an interest in taking a significant stake in Manchester United.
The Mirror reports that Ratcliffe will fly in to Manchester on Friday to meet with club officials. His team will also be granted access to United’s financial information and decide whether they wish to submit another, improved offer.
Ratcliffe is currently the owner of Ligue 1 team Nice, and will make the trip to the North-West of England after watching his side face FC Sheriff in the Europa Conference League on Thursday evening.
Will the Glazers sell Manchester United?
Manchester United fans have been calling for new ownership for years and have grown increasingly frustrated with the Glazers’ lack of investment in the club. Reports in England suggest that the Glazer family is split on the prospect of selling up, but that they could be tempted if a lucrative offer is received.
The Glazers will hope that their 10-day deadline serves to elicit larger bids from interested parties. The recent sale of Premier League rivals Chelsea for $5.4 billion has inflated the market for elite clubs and the Glazers will stand to make a huge profit on their original investment if a deal can be reached.
But while the current bids value Manchester United at around the same level as Chelsea, the Glazers are thought to be holding out for much more. Reports suggest that they are looking for a deal in excess of $7 billion to part with the club that they took control of with a leveraged takeover in September 2003.
To be able to comment you must be registered and logged in. Forgot password?