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.
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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.