The Foray of the Qatari Royal Family into English Football: A New Era for Manchester United?
Sheikh Jassim bin Hamad Al Thani’s Winning Bid
According to reports, Sheikh Jassim bin Hamad Al Thani has won the contest to buy Manchester United. However, the Qatari royal will have to wait before being officially given possession of the club. Manchester United had been on the market since November of the previous year, when the Glazer family first sought bids for the club.
A Debt-Leveraged Takeover: The Glazers’ Legacy
Malcolm, the family patriarch, purchased Manchester United for £800 million in a deeply leveraged transaction in 2005. After 18 years, his children are asking a fee in excess of £5 billion for the club’s sale.
Sheikh Jassim and Sir Jim Ratcliffe are the contenders.
Sheikh Jassim and Sir Jim Ratcliffe, formerly the wealthiest person in the UK, were thought to have reached the Glazers’ estimate. However, as the summer 2023 transfer window approaches, Manchester United remains in the Glazer family’s hands. Nevertheless…
A Qatari Takeover Is On the Way
According to reputable sources, “Manchester United are confident that they will finalize a deal by November to sell the club to the Qataris.” Recent conversations appear to have made great progress, with a £6 billion deal currently being considered.
Sheikh Jassim’s team is apparently undertaking due diligence in preparation for a final formal offer, which is likely to exceed the world record price of $6.05 billion (£4.75 billion) paid for the NFL’s Washington Commanders in July by a consortium led by Josh Harris.
Fans’ Rejoicing: Goodbye to American Ownership
Manchester United will be under new ownership a full year after the Glazers placed the club up for sale. The exit of American ownership will undoubtedly be welcomed by the majority of fans.