Manchester united takeover sheikh jassim

Sheikh Jassim remains a Manchester United supporter and wants them to be as successful as possible despite failing to agree a deal to buy the club from the Glazers. The bid cost Sheikh Jassim millions of pounds but he walked away after failing to agree a deal with the Glazers, who have owned United since but have manchester united takeover sheikh jassim looking to sell since November

This leaves Sir Jim Ratcliffe as the only other publicly declared interested potential purchaser. The development comes 11 months after the Glazers began the process. Sheikh Jassim has made a series of bids that culminated in a fifth and final offer in June. Despite the drawn-out process he and Ratcliffe had been prepared to remain patient. It is also a setback for the manager, Erik ten Hag, whose wish is for certainty as soon as possible as he bids to bring stability and return success to the team. Sheikh Jassim bin Hamad al-Thani had been one of the suitors attempting to take over Manchester United. Photograph: -.

Manchester united takeover sheikh jassim

Sheikh Jassim Bin Hamad Al Thani failed in his efforts to buy Manchester United but is seeking legal advice after it was claimed the Qatari failed to provide proof of funds. Sheikh Jassim Bin Hamad Al Thani is taking legal advice in America having been accused of not providing proof of funds when he attempted to buy Manchester United. The Qatari banker emerged as a frontrunner in the race but was eventually beaten by Sir Jim Ratcliffe, who offered a far lower sum to buy a minority share in the Premier League club. Jassim maintains that his bid was legitimate and any deal failed to go through because he chose not to overpay what he believed the club to be worth as the Glazers attempted to maximise their profits. The Qataris are now taking legal advice as they consider asking US Securities and Exchange Commission to put out a statement that they believe would allow them to set the record straight and dismiss any speculation that has been swirling, reports Sky Sports. Jassim's bid team are stunned and bemused that United told shareholders in the US on Wednesday that they were unable to provide proof of funds after they talked up a majority takeover, that would've also seen them pay off the club's hefty debts. The Qataris have also highlighted how the Glazers continued to negotiate with them, a period which spanned nearly a year, and would never have done so without knowing they had the funds to pursue such a deal. As a result, they're concerned that a false impression has been made and doesn't adequately reflect their ambitions after they made several genuine bids which they say they had the finances to back up. Jassim is understood to have built up huge costs, going into the millions of dollars, running his bid team of lawyers, bankers and advisers. His ambition though was never to be minority shareholder, holding the view that he wouldn't be able to change the club's fortunes. Ratcliffe has since come on board and taken control of United's footballing operations, bringing with him several of his trusted lieutenants who've helped his Ineos brand.

Published On 15 Oct 15 Oct This article is more than 4 months old. His ambition though was never to be minority shareholder, holding the view that he wouldn't be able to change the club's fortunes.

Qatari businessman Jassim bin Hamad Al Thani has withdrawn his bid to buy Manchester United Football Club from its current owners, the Glazer family, sources close to the bid have confirmed to Al Jazeera. In the past few days, Jassim, the chairman of a Qatari bank and son of a former Qatari prime minister, held discussions with the American owners, but the two sides failed to reach an agreement on the valuation of the UK-based club. British billionaire Sir Jim Ratcliffe, the founder and chairman of the INEOS chemicals conglomerate, submitted a bid seeking 69 percent ownership of the club, the same percentage owned by the Glazers. He has since revised his bid and has now proposed to buy 25 percent of the club, which would leave one or more of the Glazers at Manchester United. The deal immediately sparked uproar among fans, who slammed the new owners for saddling the then hugely profitable club with vast amounts of debt. By Al Jazeera Staff. Published On 15 Oct 15 Oct

A representative for Sheikh Jassim said on Saturday they put in a revised bid overnight. On Thursday, Ratcliffe put in his second bid after Wednesday's confusion and extended deadline. It followed Finnish entrepreneur Thomas Zilliacus stating he has submitted a bid to buy the Old Trafford club. Zilliacus wants to buy half of the club with the other half bought by fans, who will be part of club decision-making. On Saturday, Zilliacus claimed external-link he had also increased his bid for United overnight. Interested parties had until GMT on Wednesday to enter their bids before the deadline was extended. On Thursday, an Ineos spokesperson said: "Ratcliffe and Ineos can confirm we have submitted a revised bid.

Manchester united takeover sheikh jassim

Please use Chrome browser for a more accessible video player. The deadline for second bids was 9pm on Wednesday but Sheikh Jassim 's representatives asked for an extension on Tuesday and were given more time. The improved bid is said to be highly competitive but also considered and rational.

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The Qatari bid was for per cent of United in a debt-free deal. Sheikh Jassim Bin Hamad Al Thani is taking legal advice in America having been accused of not providing proof of funds when he attempted to buy Manchester United. Manchester United. Sheikh Jassim bin Hamal Al Thani's business ventures. Decision leaves Jim Ratcliffe in the takeover process Glazer family have owned Old Trafford club since Watch free Premier League highlights. He is said to be a lifelong football and Man Utd fan and wouldn't be the first in his family to work in the sport too with his father involved in the running of PSG. Here's everything you need to know about Man Utd's potential next owner. He remains in that position today and has seen it grow to become the third most valuable company in Qatar, according to Forbes. How much Al Thani himself is worth is somewhat unclear, but given his position as QIB chairman and the family that he's a part of, it's safe to assume that he's a billionaire. Alternatively, there is a school of thought that suggests some of the family want out, with Ratcliffe potentially a future majority owner. More details of the bid will be released, when appropriate, if and when the bid process develops.

Sheikh Jassim will make a second bid for Manchester United on Wednesday; a Qatari team visited Old Trafford for talks last Thursday, British billionaire Sir Jim Ratcliffe held meetings the next day; there is growing confidence among the bidders that the Glazers will sell the club. Please use Chrome browser for a more accessible video player. His advisers are now working on putting together a new bid which is expected to be submitted by close of business on Wednesday.

This article contains affiliate links, we will receive a commission on any sales we generate from it. Other Sports. I take great pride in that stadium, that stadium has been my life. Got A Story? Al Thani has never ventured into the world of sports professionally before, with his closest connection his father who is involved with PSG. Most viewed. It was expected for a long time that Al Thani would bid for Man Utd. Video Loading Video Unavailable. We also treat our community members to special offers, promotions, and adverts from us and our partners. National football team aim to end dire record list 4 of 4 Anger and despair as Indonesian families mark year since football disaster end of list. Follow us on social. Video Fernandes and Onana make admirable gesture towards away end after derby defeat. The video will auto-play soon 8 Cancel Play now. No details have been provided on how much money has been offered to the Glazers, but it has been stated that the bid is "completely debt free.