Man United bidder Sheikh Jassim appeared to take the lead in the race for the club but things could have been a lot different
Manchester United’s takeover saga continues to rumble on as this week with supporters still in the dark about where the ownership situation stands.
Last week appeared to be a good one on the surface of things for Sheikh Jassim bin Hamad Al Thani. The Qatari banker was reportedly set to receive exclusivity rights to put him on the verge of completing the takeover.
Manchester United bidder Sheikh Jassim
However, these reports were later dismissed as ‘pure speculation’. It is thought the Sheikh is now ahead of Sir Jim Ratcliffe with some sources stating the Middle Eastern billionaire is growing in confidence about buying the club.
He may be confident now but in MEN Sport’s latest takeover round-up, it appears Sheikh Jassim was close to leaving the race altogether.
Sheikh Jassim threatened to ‘walk away’.
According to a report by the Financial Times, Sheikh Jassim ‘threatened to walk away’ from the whole takeover process after tabling his fifth bid for United last week. His final offer is believed to have been made with a ‘take-it-or-leave-it’ approach, refusing to re-enter negotiations until a preferred bidder had been named.
While the report adds he is now considered as the leading candidate to buy United, Sheikh Jassim has shown signs that he could be prepared to walk away if there continues to be a lack of progress in the sale.
How Sheikh Jassim made his money
Manchester United owners the Glazer family are currently faced with two credible bidders for the club.
On the one side is Sir Jim Ratcliffe, the head of multinational chemicals company INEOS. He is a self-proclaimed United supporter having grown up in Failsworth.
His interest in buying a football club has been well-documented. Ratcliffe previously failed in a bid to buy Chelsea when it was put up for sale by Roman Abramovich. While he is a relatively known quantity, less is known about his rival Sheikh Jassim bin Hamad Al Thani.
Ratcliffe is aiming to purchase 60 per cent of United, Sheikh Jassim wants to buy 100 per cent of the club and has committed an extra $1bn (£790m) of investment on top of his $5bn (£3.9bn) bid. But, where has his money come from? MEN Sport has taken a look.
Source: manchestereveningnews
