Qatar’s Sheikh Jassim Set to Acquire Manchester United for £6 Billion: A New Era for the Red Devils
In a prolonged takeover race, Qatar’s billionaire Sheikh Jassim has emerged victorious over British tycoon Sir Jim Ratcliffe in the bid to acquire Manchester United. The takeover saga, spanning several months, is nearing its conclusion after the Glazer family put the “Red Devils” up for sale in November of last year. According to The Sun, Qatar’s Sheikh Jassim is inching closer to taking over Manchester United in a deal worth £6 billion.
If all goes as planned, Sheikh Jassim is expected to complete the acquisition of Manchester United by mid-October, with an official announcement possibly coming in early September. His team is currently finalizing the assessment process before taking full control of the 100% stake in the club, thereby bringing an end to the 18-year Glazer era at Old Trafford.
The Sun also reported that the Glazer family initially intended to accept the offer from British tycoon Ratcliffe, as the American owners wished to retain a portion of the club’s shares. However, high-ranking figures within the “Red Devils” organization warned the Glazers that such a move could trigger a strong backlash from fans.
Sheikh Jassim is anticipated to clear the club’s total debt of over £725 million, ensuring a smooth transition without incurring additional fees. This means that the Qatari billionaire will not extract any profits from Manchester United, in contrast to the Glazers’ approach during their majority ownership.
Additionally, Sheikh Jassim has plans to upgrade Old Trafford stadium and the Carrington training center, while also committing significant investments to strengthen the first team’s competitive edge. The impending takeover by Sheikh Jassim is a long-awaited development for most “Red Devils” supporters. They hope that the Qatari royal will usher in a new era of success for the team based at Old Trafford.
Manchester United has faced a disappointing start to the 2023/24 Premier League season. Under the guidance of coach Erik Ten Hag, the team struggled to secure a 1-0 victory against Wolverhampton in their opening match before succumbing to a 0-2 defeat against Tottenham. As a result, the “Red Devils” currently find themselves in 12th place with only 3 points from 2 matches.