The Glazer family, owners of Manchester United, have ultimately made the decision to sell the club to Sheikh Jassim due to concerns about a potential negative reaction from fans.
The Glazers have been considering offers for the club from both Sheikh Jassim, a Qatari banker, and Sir Jim Ratcliffe, the founder of Ineos, a chemicals company.
The Glazers initially hinted at the possibility of a sale when they began a strategic review in November of the previous year. However, the process of receiving bids has been protracted and has taken time.
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In late June, reports indicated that Sheikh Jassim’s bid, which encompasses the entirety of the club, was the most probable to be accepted. This decision was influenced by recent protests by fans against the Glazer ownership at Old Trafford.
According to a recent article by The Sun, Sheikh Jassim has emerged as the victor in the competition to acquire Manchester United.
Is Sheikh Jassim close to completing £6bn Man Utd takeover? 💰 pic.twitter.com/rsiZSXPu9R
— Sky Sports Premier League (@SkySportsPL) August 23, 2023The Qatari businessman is reportedly on track to finalize his complete £6 billion acquisition of the club by the middle of October.
The completion of the takeover is projected to occur around mid-October as Sheikh Jassim and his team conclude their due diligence process.
However, there is a possibility that an announcement could be made even as early as next month, according to the publication.
Having acquired Manchester United for £790 million in 2005, the Glazer family is set to realize a substantial profit on their initial investment.
If all unfolds according to the envisioned timeline, the culmination of this process in October will finally bring an end to a year-long saga that commenced when the Glazers placed the iconic Old Trafford club on the market in November 2022.
Despite the willingness of the British billionaire Sir Jim Ratcliffe to permit the Glazers to retain a portion of ownership in the Premier League club, Sheikh Jassim has managed to outshine the competition and secure the deal.
A club statement at the time read: “Manchester United, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club.
“The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.”
“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.”
“This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.”
With slightly more than a week remaining before the transfer window closes, Erik ten Hag continues to actively seek signings for a midfielder, a reserve goalkeeper, and a center-back.
However, the pursuit of a center-back might present challenges. This is particularly true in the context of Harry Maguire’s potential departure from the club, especially considering his previous near-move to West Ham.
