Sheikh Jassim and Sir Jim Ractcliffe bids are compared as the Glazer’s preferred Manchester United buyer emerges.
Seven months ago, the Glazers put United up for sale. Hopefully, a resolution to the Man Utd takeover saga is just around the corner and the preferred bidder has emerged.
Qatari banker, Sheikh Jassim bin Hamad Al Thani is the favourite to win the battle. Meanwhile, INEOS chief Sir Jim Ractcliffe is also on the race.
Other investors are interested in buying a minority stake in United, but the Glazers will face a fan revolt if they pull out now.
The Americans are very unpopular and supporters are desperate to see the back of them after a decade without a Premier League title.
Sheikh Jassim and Ratcliffe are both desperate to get the keys to Old Trafford and have made very different bids.
Below is what each is offering the United fans as a decision on the club’s future edges closer.
Sheikh Jassim
United are negotiating granting exclusivity to Sheikh Jassim’s consortium. That is quite a confusing sentence, as it suggests the Qatari banker has won the takeover race. But he is still to be named as the preferred bidder.
If Sheikh Jassim does win the race, he wants to buy 100 per cent of the club. The Glazers and all minority shareholders will be bought out. The billionaire has also promised his bid is “completely debt free” and will invest heavily in the team and club’s infrastructure.
United fans can expect Erik ten Hag to have hefty transfer budget, with rumours of Kylian Mbappe’s arrival swirling, and Old Trafford will be redeveloped or rebuilt altogether. Sheikh Jassim’s desire is to “return the club to its former glories both on and off the pitch”.
Sheikh Jassim’s takeover is backed by his Nine Two Foundation. But we know little about how the foundation is financed. He is the son of a former Qatari prime minister and chair of the Qatar Islamic Bank (QIB). QIB’s largest shareholder is Qatar’s sovereign-wealth fund.
Sheikh Jassim’s close links to the Qatari state is why many critics believe he is simply fronting a Qatar-backed bid. If that is the case, United could have unlimited funds in the transfer market to compete financially with the likes of Manchester City and Newcastle.
Sir Jim Ratcliffe
Despite Sheikh Jassim’s bid progressing, Ratcliffe is still in the race. He is the CEO of chemicals company INEOS and is often referred to as ‘Britain’s Richest Man’, such is his wealth. The 70-year-old is also a local lad, hailing from Failsworth in Greater Manchester.
Ratcliffe wants to buy a controlling share of United rather than 100 per cent. Crucially, his bid involves two members of the Glazer family – Joel and Avram – remaining part-owners. That could swing the bidding war back in his favour later down the line.
The Glazers are divided on selling United. Darcie, Kevin, Bryan and Edward are all happy to sell up, while Joel and Avram – who are the co-chairs – want to remain part of the club. If Ratcliffe’s bid wins, his reign will not be a clean break from the recent past.
Ten Hag is expected to have a smaller transfer budget if Ratcliffe beats Sheikh Jassim in the takeover race. He has also not promised to write off United’s existing debt, which is a sore spot for supporters. United have accrued more than £500million worth of debt.
INEOS already own French side Nice and Swiss outfit Lausanne-Sport. UEFA do have rules on multi-club ownership, but that is not expected to be an issue as United are unlikely to face either team in Europe. As such, they could become feeder clubs for United.
Like Sheikh Jassim, Ratcliffe’s bid will also see Old Trafford renovated or rebuilt altogether.
Whatever happens, this is a must for United.