OFFICIAL NOW: Take over news set to be completed Following Sheikh Jassim’s first failed effort to purchase Manchester United from the Glazers
Following Sheikh Jassim’s failed effort to purchase Manchester United from the Glazers, Sir Jim Ratcliffe is now expected to acquire a 25% minority stake in the team.
After his attempt to purchase Manchester United from the Glazers failed, Sheikh Jassim bin Hamad Al Thani was left “very disappointed and angered.” The Qatari investor is now expected to focus on Liverpool.
On Saturday, it was disclosed that Sheikh Jassim had withdrawn his most recent offer, which was estimated to be valued at £5 billion. Sir Jim Ratcliffe is now anticipated to complete an agreement that will allow him to purchase a 25% minority interest in United for a cost of approximately £1.4 billion.
A nearly year-long saga will come to an end with the potential approval of the deal during a Thursday United board meeting. The Glazers announced in November of last year that they would “consider all strategic alternatives, including new investment into the club, a sale, or other transactions.”
Sheikh Jassim had promised to pay off United’s debt and make significant investments to upgrade the team’s equipment and roster. But after the most recent round of talks with the Glazers ended without an agreement, he terminated the negotiations.
Sheikh Jassim reportedly put aside about $8 billion (£6.57 billion) to purchase the club and subsequently invest in it, according to The Daily Mail, and is “very, very disappointed and angered at how this has played out”. He is therefore expected to attempt to purchase Liverpool next.
Owners Fenway Sports Group (FSG) said in a statement that they would “consider new shareholders if it was in the best interests of Liverpool as a club” in response to reports that the team had been placed up for sale last year.
“There have been a number of recent changes of ownership and rumours of changes in ownership at EPL clubs and inevitably we are asked regularly about Fenway Sports Group’s ownership in Liverpool,” the statement continued.
“FSG has been inundated with indications of interest from outside parties wishing to acquire equity in Liverpool. FSG has already stated that, given the proper circumstances, we would take into account adding new shareholders if doing so would benefit Liverpool as a team. FSG is still totally dedicated to seeing Liverpool succeed on and off the football.”
Principal owner John W. Henry, however, stated in February that the club was not wanting to be sold, even though they were looking for additional funding. He told the Boston Sports Journal, “I know there has been a lot of talk and quotes about LFC, but I stick to the facts: we merely formalised an ongoing process.”
