The Qatari Royal Family’s Foray into English Football: A New Era for Manchester United?
The Winning Bid: Sheikh Jassim bin Hamad Al Thani
According to reports, Sheikh Jassim bin Hamad Al Thani has won the contest to buy Manchester United. However, the Qatari royal will have to wait before being officially given possession of the club. Manchester United had been on the market since November of the previous year, when the Glazer family first sought bids for the club.
The Glazers’ Legacy: A Debt-Leveraged Takeover
In 2005, the family’s patriarch, Malcolm, acquired Man Utd for £800 million through a heavily debt-leveraged takeover. Now, after 18 years, his children are demanding a fee exceeding £5 billion for the sale of the club.
The Contenders: Sheikh Jassim and Sir Jim Ratcliffe
Sheikh Jassim and Sir Jim Ratcliffe, formerly the wealthiest individual in the UK, were believed to have met the valuation set by the Glazers. However, as the summer 2023 transfer window nears its end, Manchester United remains in the hands of the Glazer family. Nevertheless…
The Imminent Deal: A Qatari Takeover
According to reliable sources, “Manchester United are confident that they will finalize a deal by November to sell the club to the Qataris.” Recent discussions have apparently made significant progress, with a sale worth £6 billion now being close. Sheikh Jassim’s team is reportedly conducting due diligence in preparation for a final formal offer, which is expected to surpass the world record price of $6.05 billion (£4.75 billion) paid by a consortium led by Josh Harris for the NFL’s Washington Commanders in July.
The Fans’ Relief: Farewell to the American Ownership
This means that Manchester United will have new ownership a full year after the Glazers put the club up for sale. The majority of fans will likely be relieved to see the departure of the American ownership.
The Summer Transfer Market: Active Despite Uncertainties
Despite the ongoing sale process, Manchester United has been active in the summer transfer market. They have already spent over £160 million on acquiring Rasmus Hojlund, Mason Mount, and Andre Onana from Atalanta, Chelsea, and Inter Milan, respectively.
