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Manchester United Set To Get New Owner, Glazers Accept Sheikh Jessim £6bn Bid

New Delhi: The saga has dragged on for months since the club was first sold in November. But according to The Sun, Qatar’s royal family is ready to buy the Red Devils for around £6 billion ($7.9 billion). The report claims a date has been set for Sheikh Jassim, former Prime Minister of Qatar to take […]

Edited By : News24 Desk | Updated: Aug 23, 2023 13:10 IST
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New Delhi: The saga has dragged on for months since the club was first sold in November. But according to The Sun, Qatar’s royal family is ready to buy the Red Devils for around £6 billion ($7.9 billion). The report claims a date has been set for Sheikh Jassim, former Prime Minister of Qatar to take over because the much-maligned Glazer family is not allowed to retain an investment in the club.

Sheikh Jessims wins Man United’s bid for £6bn

British billionaire Ratcliffe, was the leading candidate against Qatar’s bid, although his offer is believed to have included a stay with the Glazers. Jassim will take over United instead. But The Sun reports that the impasse could be over as Qatar’s £6bn bid trumps Ineos. The release clause issues will be resolved over the next two months and a full takeover of the club is expected to be completed, ending the Glazers’ 18-year association with the club.

Jassim said that he wants to invest in the club’s stadium and infrastructure while continuing to improve the first-team squad.

Big picture for Man United

The Sun adds that an announcement could be made as early as next month as the Qatari bid wipes out United’s £725m debt. Sheikh Jassim does not plan to take a dividend from the club in future years, as was the practice under the Glazers, while the elusive Qatari national will contribute money to develop United’s stadium and training ground after the takeover.

What next

United were effectively sold last November and the ongoing process since then has undermined Erik ten Hag’s managerial duties at Old Trafford. The uncertainty affected internal budgets, long-term planning, and the general atmosphere of the club. While the Qatari takeover will delight some fans because of the owner’s vast wealth, many others may feel uneasy because of the Arab country’s human rights record.

 

First published on: Aug 23, 2023 01:10 PM IST

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