In a surprising turn of events, Qatari businessman Sheikh Jassim bin Hamad al Thani has withdrawn from the bidding process to acquire Manchester United, one of the world's most renowned football clubs. This decision has left the club's ownership landscape uncertain, with the Glazer family, who have owned the club since 2005, still in control.
Sheikh Jassim's offer, which valued the club at more than £5 billion, was believed to be the only bid for 100% of Manchester United. However, sources suggest that the Qatari's valuation did not meet the expectations of the Glazers, prompting his withdrawal. This move has left the door open for petrochemicals billionaire Sir Jim Ratcliffe, a lifelong fan of the club, who is now reportedly close to agreeing on a deal to buy a 25% stake in Manchester United.
Sheikh Jassim's bid would have made Manchester United the most expensive sports team in history, surpassing the deal to buy the NFL side Washington Commanders. However, it still fell short of the Glazers' own valuation of the club at around £6 billion. The Manchester United Supporters' Trust (MUST) has since urged the Glazer family to clarify their position, emphasizing the club's need for investment to upgrade Old Trafford and secure their first Premier League title since 2013.
The Glazers' tenure, which began with their acquisition of the club for just under £800 million in 2005, has been marked by protests and a notable lack of trophies, especially since the retirement of legendary manager Sir Alex Ferguson in 2013. Despite this, the Red Devils managed to secure their first trophy in six years by defeating Newcastle United in the Carabao Cup final in February.
Sky Sports News chief reporter Kaveh Solhekol provided insights into the situation, stating, "The Glazers have indicated that they would rather do a deal with Sir Jim Ratcliffe... so Sheikh Jassim has withdrawn from the sale process for Manchester United." Solhekol also highlighted the potential benefits of Sheikh Jassim's ownership, including clearing the club's debts and significant investments in the transfer market and infrastructure.
On the other hand, Sky News sports correspondent Rob Harris pointed out that while Sir Jim Ratcliffe's involvement would bring fresh investment to the club, it would not result in the complete change of ownership that many fans desire. "If it was to be Sir Jim Ratcliffe investing in the club, it would still leave the Glazers in overall control," Harris noted.
Andy Mitten, editor of 'United We Stand', expressed the fans' mixed feelings and frustrations over the prolonged uncertainty surrounding the club's ownership. "Manchester United needs capital to redevelop Old Trafford. The club needs a new direction, and the fans are unanimous about that," Mitten said.
As the ownership saga continues, Manchester United's future remains in the balance, with fans and stakeholders eagerly awaiting clarity on the club's direction.
