Sheikh Jassim’s £6bn Qatari Takeover of Man Utd Sets Date; Announcement Imminent
Sheikh Jassim, a Qatari royal, is poised to finalize his acquisition of Manchester United for a staggering £6 billion by mid-October.
This news comes after successfully fending off rival bidder Sir Jim Ratcliffe, a British billionaire who was open to allowing the Glazer family to retain a stake in the Red Devils.
An official date for the completion of the takeover has been tentatively set, and an announcement could be made as early as next month.
Currently, Sheikh Jassim’s team is diligently conducting their due diligence on the club, preparing to bring an end to the Glazers’ controversial 18-year reign.
The news of a 100% sale will undoubtedly delight United fans, who have long feared that the American owners would continue to delay progress and maintain some control over the club.
Senior figures at Old Trafford had warned the Glazers of a potential backlash from the fanbase if they persisted in holding shares.
When the Glazers orchestrated their £800 million takeover back in 2005, they burdened Manchester United with substantial debts, which have cost the club over £1 billion to service to date.
The most recent financial figures indicate that the gross debt stands at £725 million, its highest level since 2010.
Sheikh Jassim intends to eradicate this debt, saving the club from further financial burdens. Furthermore, he has plans to upgrade both Old Trafford and the club’s Carrington training ground, while also continuing to invest in the team itself.
This impending takeover will bring an end to a protracted process that commenced when Manchester United was put up for sale in November of last year.
Supporters of the club eagerly anticipate the fresh direction and leadership that Sheikh Jassim is expected to bring.
However, not all news is positive for United at present. Midfielder Mason Mount, who was signed for £60 million from Chelsea this summer, is set to miss upcoming Premier League matches against Nottingham Forest and Arsenal due to a “small complaint” he sustained during the team’s 2-0 defeat to Tottenham on Saturday. The club statement indicates that he is unlikely to return until next month’s international break.
United’s first match following the break will be against Brighton at Old Trafford on Saturday, September 16.
Meanwhile, the club is reportedly evaluating Fenerbahce goalkeeper Altay Bayindir, 25, as a potential backup option for their new £43.8 million number one, Andre Onana.