MANCHESTER UNITED
What is the latest on the Manchester United takeover?
United are the fourth-richest soccer club in the world.
Manchester United are negotiating to grant exclusivity to the consortium led by Qatar’s Sheikh Jassim bin Hamad al-Thani in the talks to sell the club for more than $6 billion, according to Reuters on Thursday.
The report explains that the Qatari offer is currently viewed by the Glazers more favorably than a bid from the founder of chemicals producer INEOS, Jim Ratcliffe. Ratcliffe’s offer would see the Glazers keep some interest in the Premier League club.
Fourth-richest soccer club
A $6 billion deal for the Old Trafford outfit would make it one of the biggest sports deals ever. Shares of United jumped nearly 15% on the news, before paring some gains.
United would therefore not be allowed to negotiate with other bidders during the exclusivity period for Sheikh Jassim. Sources warned that the situation remained fluid and a new bid from British businessman Ratcliffe could prevent Sheikh Jassim from securing exclusivity.
According to Deloitte, United are the fourth-richest soccer club in the world.