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Manchester United supporters have voiced their displeasure at the Glazer family after frustrating efforts by Qatari billionaire Sheikh Jassim for complete control of the Premier League club
Manchester United fans have responded furiously to reports that Qatari billionaire Sheikh Jassim has pulled out of the race to buy the club.
Sheikh Jassim had further discussions with Glazers family to buy 100 per cent of Manchester United with his final bid understood to be almost double than $3.5 billion market valuation.
Hid bid also included $1.5 billion extra investment, including clearing all the debt the club is currently loaded with.
However, Sheikh Jassim’s bid proposition was rejected again by Glazer family and as a result, he informed the club owners that he’s ready to withdraw from the process, leaving British billionaire Sir Jim Ratcliffe as the sole bidder.
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19:08 - 14.10.2023
Manchester United: Sheikh Jassim withdraws bid, ends interest in Red Devils
Qatari billionaire Sheikh Jassim bin Hamad Al Thani has reportedly withdrawn from the race to purchase Manchester United.
Ratcliffe is now ready to buy 25 per cent of Manchester United in the next days and the board will vote on 25 per cent stake bid in the coming days.
The billionaire wants sporting control and future major ownership after initial 25 per cent, a stance United fans are against since they feel the club needs an immediate overhaul with the Glazers also unwanted by the supporters.
On Sunday, the hashtag ‘RIP Manchester United’ was the top trending topic on X with fans voicing their displeasure over the latest development.
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Ratcliffe claims to be a boyhood United fan and was brought up in Failsworth, a predominantly working-class town on Oldham’s border with Manchester. The council house in which he was raised is a little over a mile away from Newton Heath, United’s birthplace.
Then there is the glamour. One source close to the process summed it up well. “To say Manchester United is a prized asset is underplaying it hugely,” the source explained, as per Mail Sport.
“If you are seriously rich and want to buy a yacht, you go and get one. If you want to buy a luxury house, or a fast car you go and get one.
“But when you go into a room with your peers they have all done that too. When you go into that room and say that you own Manchester United then you win. And they can make more yachts and supercars and houses – but they cannot build another Manchester United.
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“There will only ever be one and the opportunity to acquire it has a massive pull. It is something that simply does not come around very often.”
By all accounts, Ratcliffe’s bid team have been savvy.
They have been in regular dialogue with Raine, the US merchant bank handling the sale. There have been no ultimatums, unlike their Qatari rivals, and they have been respectful and flexible.
When it became clear an initial bid for a majority stake would not be accepted, they found another way – something Ratcliffe, who has two sons and a daughter, has been doing all his life.
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15:30 - 12.10.2023
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He has also been making a success, and United presents a huge challenge. And paying between £1.4 billion and £1.5 billion now affords him time to find the rest.
Those who know the INEOS billionaire says he has a spirit for adventure. He may well need that over the coming days, weeks and years.
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