The Manchester United takeover is scheduled to be completed in October after Sheikh Jassim bin Hamad Al Thani emerged victorious over Sir Jim Ratcliffe in the race to succeed the Glazers.
Sheikh Jassim bin Hamad Al Thani is already planning to make long-awaited changes to Manchester United with a view to completing his long-awaited takeover by mid-October.
The Qatari banker, who is closing in on a £6bn deal to buy the club, is believed to have beaten long-time rival Sir Jim Ratcliffe after a tough competition that began in November 2022 and saw multiple bidding rounds. amid protests from fans. Sheikh Jassim has vowed to buy 100 percent of United and end the Glazer family’s unpopular 18-year reign at Old Trafford.
Meanwhile, British billionaire and INEOS CEO Ratcliffe had been working on a proposal that would see the Glazers continue to have a stake in the club. According to The Sun, Sheikh Jassim has now risen to the top and is conducting his final due diligence on United before signing a seismic deal that will shake world football.
With an announcement that could come as soon as next month, the son of the former Qatari prime minister will quickly wipe out the club’s gross debt, which according to the latest figures was £725m. Unlike the Glazers, Sheikh Jassim will not accept any dividend payments from United, one of the main complaints from fans with the American family.
His Qatari entourage is also planning renovations to both United’s home stadium, Old Trafford, and their training center in Carrington. Sheikh Jassim will also invest in Erik ten Hag’s playing team, hoping to finance his return to the top of European football with a slew of big-money transfers.
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In February, the president of the Islamic Bank of Qatar outlined his proposal to his supporters, many of whom harbor reservations about a state-backed takeover, even though they will see the Glazers ousted. “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 percent of Manchester United Football Club,” he said in a statement.
“The bid aims to return the club to its former glories both on and off the pitch and, above all, will seek to place the fans at the heart of Manchester United Football Club once again. “The offering will be completely debt-free through Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, training center, stadium and broader infrastructure, fan experience and communities that the club supports.
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“The vision of the bid is for Manchester United Football Club to be recognized for its footballing excellence and regarded as the best football club in the world. Further details of the bid will be released, where appropriate, as and when the process develops. of candidacy.”
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