Qatari Project to Buy Manchester United Abandoned: Negotiations, Disagreements, and Potential Minority Shareholder

2023-10-14 21:12:45

Almost a year of negotiations, bluffs and promises in the press were reduced to nothing this Saturday. According to several sources, the Qatari project aimed at buying Manchester United was abandoned, the fault of too great a disagreement on the sale price. Information confirmed by the Sheikh’s entourage, who did not wish to speak officially, in the name of confidentiality.

Since November 22, 2022 and the announcement of the club’s sale, two projects have stood out. That of Jim Ratcliffe, owner of OGC Nice, and another, worn by Jassim ben Hamad al-Thani. Son of a former Prime Minister and boss of the Qatar Islamic Bank (QIB), the sheikh promised to buy the club in one go and provide it with immediate liquidity.

“Manchester United is estimated at $3.2 billion,” explains a source close to the matter, citing a study by the KPMG firm dating from 2018. Sheikh Jassim’s offer was almost double the price. » An offer to which is added 800 million dollars injected immediately to absorb the club’s debt.

As well as a contribution of an additional billion and a half dollars to renovate Old Trafford as well as the training center, and invest in the transfer window, with great short-term ambitions. All without debt, with money provided by private Qatari funds which supported the project.

Ratcliffe soon to be a minority shareholder?

Not enough for the Glazers, who have owned the club since 2005 and hoped to make $10 billion from it at the time of sale according to the British press. The American family of six siblings also finds itself mired in a family disagreement. Four of them would like to sell the club entirely while Joel and Avram, the co-presidents, would like to keep shares.

This position is in line with Jim Ratcliffe. A declared candidate, the founder of Ineos would not want to buy the entire club, unlike the Qataris who might not imagine living together. His last offer targeted 25% of the club, without the amount having been filtered. According to information from the Daily Mail which we confirm, an agreement would be ratified this week between the Glazer family and the owner of OGC Nice, making the latter a minority shareholder of 25%. Provided that this participation is validated by the MU board of directors.

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