Manchester united takeover sheikh jassim

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 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 been looking to sell since November The Qatari bid was for per cent of United in a debt-free deal. Meanwhile, one of United's biggest shareholders has told the Financial Times that he does not know what is happening with Ratcliffe's proposed deal to buy a minority stake. Nick Train, of UK fund managers Lindsell Train, said: "I've got to assume that we're closer to some sort of an announcement or crystallisation of value but who knows when or quite what shape it will take if the rumours are correct. Watch free Premier League highlights. Please use Chrome browser for a more accessible video player.

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.

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It was announced that he had done so, heading up a Qatari consortium, in a statement released to the public. More details of the bid will be released, when appropriate, if and when the bid process develops. He left his home country to be educated in the United Kingdom, attending the Royal Military Academy in Sandhurst and graduating as an officer cadet. After that, he pursued a career in business and has since worked with multiple companies and banks specifically as a board member and chairman. 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. The main role of Al Thani's career to date has been his position as chairman of Qatar Islamic Bank, one of the biggest banks in the country. He remains in that position today and has seen it grow to become the third most valuable company in Qatar, according to Forbes.

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.

Manchester united takeover sheikh jassim

Ineos owner Sir Jim Ratcliffe and Qatari banker Sheikh Jassim are set to submit new bids to buy Manchester United after a deadline was extended at their request amid confusion on Wednesday night. Bidders were told they had until GMT to submit second, revised bids. BBC Sport has been told several other proposed investors made their submissions by that time. It is unclear when the new deadline will be. Ratcliffe and Sheikh Jassim are the only publicly declared bidders.

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Sheikh Jassim bin Hamal Al Thani's business ventures. 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. Can United mount a title challenge? 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. Sir Jim Ratcliffe could change bid to buy minority stake in Manchester United. Most viewed. Quick Guide How do I sign up for sport breaking news alerts? Story Saved. I take great pride in that stadium, that stadium has been my life. Sheikh Jassim bin Hamal Al Thani's sports ventures. 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. 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 been looking to sell since November

The sale of Manchester United took a significant step forward late on Friday when the Glazer family received a bid from the son of the former prime minister of Qatar. It is unknown how much Sheikh Jassim, who says he is a lifelong Manchester United supporter, has offered and much of the conversation in the coming days and weeks will be about whether the bid is, as he claims, truly independent of the Qatari state. Raine Group, the investment banking firm in charge of the sale on behalf of current owners the Glazer family, had set a soft deadline of 10pm UK time 5pm ET for official interest to be formalised in writing.

We also treat our community members to special offers, promotions, and adverts from us and our partners. Entries by 3pm Saturday. In Your Area. 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. The video will auto-play soon 8 Cancel Play now. He left his home country to be educated in the United Kingdom, attending the Royal Military Academy in Sandhurst and graduating as an officer cadet. 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. He remains in that position today and has seen it grow to become the third most valuable company in Qatar, according to Forbes. Facebook Twitter. The deal immediately sparked uproar among fans, who slammed the new owners for saddling the then hugely profitable club with vast amounts of debt.