Manchester United’s share price soared nearly 10% on Thursday following a Reuters report that the club are in talks to grant Sheikh Jassim exclusivity.
The Qatari banker has made five offers to buy United in a deal that would value the club at up to £6billion.
Sources close to Sheikh Jassim say he is still waiting to find out if he entered as an exclusive.
No exclusivity was granted to any party interested in buying or investing in the club.
According to Reuters, the Glazer family is currently viewing Sheikh Jassim’s offer more favorably than a competing offer from British billionaire Jim Ratcliffe.
Sheikh Jassim wants to buy 100% of the club in a debt-free deal, while Ratcliffe is reportedly willing to buy the Glazer family’s 69% of the club in a phased takeover.
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Sky Sports News’ Kaveh Solhekol reports that PSG chairman Nasser Al-Khelaifi has played down any involvement in Sheikh Jassim’s bid for Manchester United
The company Sheikh Jassim wants to use to buy United – Nine Two UK Holdings Limited – was formally incorporated at Companies House on Thursday, but the process to do so is believed to have started weeks ago.
Man Utd is widely regarded as one of the most valuable assets in all of sport. A $6 billion deal would make the deal one of the biggest sports deals ever, following the similarly sized sale of the National Football League’s Washington Commanders earlier this year.
United is the fourth richest football club in the world, according to analysis by Deloitte.
The Glazer family have asked the PSG president to help increase the offer
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Kaveh Solhekol explains who Nasser Al-Khelaifi is and what his involvement would mean after speculation that the Paris Saint-Germain president was involved in Sheikh Jassim’s bid for Manchester United
Last week, sky sports reported that United owners had met with PSG chairman Nasser Al-Khelaifi to ask him to convince Sheikh Jassim to increase his offer to buy the club.
The Glazers want £6billion and Sheikh Jassim has submitted an improved fifth offer, which is considered his final offer, totaling around £5billion.
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Sky Sports News chief reporter Kaveh Solhekol explains that Sheikh Jassim has submitted a fifth bid to buy Manchester United, but adds that this will be his last offer for the club and it’s now or never for the Glazers.
Athleticism reported on Friday that Al-Khelaifi had “played an important role” in the Qatari king’s bid to buy the club from the Glazer family.
He also reportedly met with the Raine Group to discuss the takeover.
But Sky Sports News was informed that Al-Khelaifi was only asked for advice, as Sheikh Jassim also contacted the PSG president about his candidacy before.
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Manchester United co-owner Avram Glazer keeps a low profile as he is asked about the club’s potential takeover
Sheikh Jassim believes his bid is highly competitive and brings huge benefits to Manchester United, including the removal of nearly £1billion of club debt and a separate fund to redevelop Old Trafford, the surrounding area and the home ground. club training at Carrington.
Sir Jim Ratcliffe’s INEOS values United at a higher price than Sheik Jassim’s offer, but theirs is not for the whole club and would give the Glazers the chance to retain a 20% stake. United’s share price closed at $18.80 on the NYSE in May, giving the club a market capitalization of $3.09bn (£2.47bn).
What the British press says
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The Mirror’s John Cross and The Daily Telegraph’s Sam Wallace join Teddy Draper on Back Pages Tonight to discuss the latest news on the Manchester United takeover
Sam Wallace from the Telegraph:
“For the Qataris, prestige is everything. They are absolutely in this race, they want to win. there you go, we’ve got a new offer.”
John Cross of the Daily Mirror:
“Jim Ratcliffe would only own a piece of the club and I just think that totally misunderstands the mood of the Manchester United fans. Kaveh Solhekol was excellent when he said: everybody’s fed up, it’s time to move on to something else.” either have to stick or twist and make a decision very soon.
“I messaged a friend of mine at Manchester United before asking which of Qatar or Sir Jim Ratcliffe he would prefer and he immediately said the sheikh because it would be complete ownership, Manchester United fans are completely sick and tired of the Glazer family and no longer want this property.”