Manchester United Takeover: Sheikh Jassim Set to Seize Ownership
As Manchester United grapples with its worst-ever start to a Premier League season, there appears to be a glimmer of hope on the horizon. Reports circulating at the end of August suggest that the eagerly anticipated takeover of the club, promising a fresh and exciting era at Old Trafford, may be just around the corner.
Come November, it will have been one year since the Glazer family announced a strategic review aimed at exploring alternative investment options, including a potential sale of the club.
However, this protracted and sometimes frustrating process may not have to endure until November. Recent reports indicate that Sheikh Jassim bin Hamad Al Thani is poised to finalize his takeover of Manchester United this month.
Back in August, The Sun reported that Sheikh Jassim was in a strong position to seal a £6 billion deal to acquire the club by mid-October. According to the report, Sheikh Jassim had triumphed over competition from British billionaire Sir Jim Ratcliffe, and his Qatari team was diligently completing their due diligence as they prepared to assume control.
The Glazers had been cautioned about the potential consequences of retaining ownership, as fan protests at Old Trafford continued to escalate.
While an official announcement was originally rumored for September, it has yet to materialize due to ongoing uncertainties about the Glazers’ intentions regarding the sale.
Sheikh Jassim has pledged to eliminate the debt that has accrued during the Glazer era, thereby saving the club from further financial burdens and putting an end to dividend payments—a major point of contention among the unpopular American owners. Since their contentious £800 million takeover in 2005, the Glazers have presided over a staggering £725 million in gross debt.
Currently, Manchester United’s debt is at its highest level since 2010, but little concrete evidence has emerged to suggest that the Glazers are on the verge of relinquishing control, aside from The Sun’s bold report.
In addition to debt relief, Sheikh Jassim plans to make substantial investments in the redevelopment of Old Trafford and the Carrington training facilities, should his takeover bid prove successful.
Recent reports from other sources suggest that Ratcliffe remains a contender and is revising his offer to align more closely with the Glazers’ demands. There are also lingering options for minority investments if the Glazers ultimately decide to maintain control at Old Trafford.
However, The Sun’s report from approximately six weeks ago asserts that Sheikh Jassim is the frontrunner and will soon be confirmed as Manchester United’s new owner.
For a substantial portion of the fanbase, such news would come as a welcome relief amidst the ongoing on-field struggles.