Qatar’s Sheikh Jassim bin Hamad al-Thani has reportedly won the bid for Manchester United and will likely be the new owner of the English Premier League club.
The final decision from the current owners, Glazers, is expected later this week.
Sheikh Jassim and British billionaire Sir Jim Ratcliffe were the bidders interested in signing the renowned club, however, the Qatari leader came out on top after an improved offer last week, which is said to be worth around £5billion.
According to the Qatari newspaper Al-Watan, Sheikh Jassim’s takeover bid has been a “success,” and an “announcement of the deal [will be] soon”.
Sheikh Jassim, 41, educated at Britain’s elite Royal Military Academy at Sandhurst, claims to be a long-time United fan.
He was the first to submit a bid by the ‘soft deadline’ of February 17 and has promised a “completely debt free” takeover of United.
The Glazers, who completed a leveraged takeover of the club in 2005, have proved deeply unpopular with supporters due to the team’s declining fortunes on the pitch in recent years.
Their purchase of United also saddled the club with huge debts, and they have long been accused of taking more out financially than they have invested in terms of transfer funds.
The Glazers further angered United fans by backing the failed European Super League project in April 2021, which would have led to the club joining a breakaway competition.
A statement from United in November said the board would “consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company”.
United, who have not won the Premier League since 2013, finished in third place this season, won the League Cup, their first trophy in six years, and lost to Manchester City in the FA Cup final.—APP
