Sheik Jassim bin Hamad Al Thani unsuccessfully tried to buy Manchester United from the Glazer family. It goes in vain.
Purchase Unsuccessful
The inability of Sheikh Jassim bin Hamad Al Thani to purchase Manchester United from the Glazer family has dashed his aspirations of taking over another Premier League team. For around ten months, the Qatari monarch was in the race to buy the Red Devils. Until word leaked out that Sir Jim Ratcliffe was going to finish out his minority stake in the team.
Since then, as the Qatari state continues to seek ways to increase its influence in European sport. There have been rumours that Sheikh Jassim may attempt to purchase West Ham. Following his failure to close a deal with the Glazers. After her father, David, passed away earlier this year. Vanessa Gold has now revealed that 10% of the shares owned by her family estate are now accessible.
Sheik Jassim bin Hamad Al Thani Not Interested in shares
Sheikh Jassim is unlikely to be interested in purchasing the shares. Though, according to financial analyst Mark Kleinman, as doing so would not provide him complete control over the team.
“about course, there have been murmurs about Qatar before and maybe even after the Manchester United takeover proposal, but one would think that a bid like that would want complete control, which would not be feasible given the presence of [Daniel] Kretinsky and other individuals who are very well-established in that organisation. It will cause a change in the balance of power.
Fans Unhappy
After ten months of uncertainty and ceaseless conjecture, the Glazers decided to go with Ratcliffe as their preferred investor, and Sheikh Jassim withdrew his offer for United last month. The head of INEOS will pay around £1.25 billion to acquire 25% of the team. Leaving the Glazers with a 69% stake.
Some United fans were quite critical of the revelation, believing that the Glazer family should sell the entire team instead of taking Ratcliffe’s minority interest.
