Sheikh Jassim bin Hamad al-Thani launched a final bid for United last week; no decision has yet been made about a preferred bidder by Raine Group, the investment bank handling the club’s sale; British billionaire Sir Jim Ratcliffe is also hoping to take control at Old Trafford.
The Qatar-based bid to take control of Manchester United, led by Sheikh Jassim bin Hamad al-Thani, is increasingly confident of securing a deal ahead of British billionaire Sir Jim Ratcliffe, sources have told 90min.
The Nine Two Foundation, which was officially incorporated as a registered company in the United Kingdom on Thursday, was founded by Sheikh Jassim for the sole purpose of taking over at Old Trafford, and a fifth and final bid was lodged for the club last week worth around £6bn.
The Qatari bidding team had become frustrated with the lack of movement in negotiations in recent weeks, but their latest offer is understood to have progressed talks with United and Raine Group, the investment bank overseeing the sale of the club.
Reports elsewhere have suggested that Sheikh Jassim’s bid is in talks over an exclusivity period – ahead of Sir Jim Ratcliffe’s INEOS group, who are also bidding to take control of the club – but sources close to United have made it clear to 90min that talks remain on with all interested parties.
Other sources close to Old Trafford have insisted that a period of exclusivity may not even be necessary for a preferred bid or winner to be declared.
“How do you decide the price of a painting? How do you decide the price of a house? It’s not related to how much it cost to build or how much it cost to paint,” Ratcliffe told the Wall Street Journal. “What you don’t want to do is pay stupid prices for things because then you regret it subsequently.”
“Our interest in that club would be purely in winning things.”
The Glazer family announced in November last year that they were looking for investment into the club or a full sale – the latest twist in a tumultuous 18-year reign that began in May 2005 when Malcolm Glazer purchased a 28.7% stake in the club from John Magnier and J.P McManus.
Their ownership has been plagued by supporter protests despite trophy success continuing in the final years of Sir Alex Ferguson’s reign – five Premier League titles, three League Cups and the Champions League the success enjoyed by the Scot between 2005 and 2013.
In the ten years following, United have won four major trophies in total and have spent in excess of £1bn in the transfer market – though that lavish spending masks years of escalating debt and money being taken out of the club.
