15/10/2023
businessman Sheikh Jassim new bid to buy Man United has been 𝐫𝐞𝐣𝐞𝐜𝐭𝐞𝐝 and he has 𝐰𝐢𝐭𝐡𝐝𝐫𝐚𝐰𝐧 from the process to buy 100% of Manchester United 🇶🇦
› In the last few days, Sheikh Jassim has had further, final discussions and negotiations with the Glazers family to buy 100% of Manchester United.
› Sheikh Jassim’s bid proposition, once again, does NOT meet the Glazers’ family own valuation.
› Sheikh Jassim’s team decline to official comment on this news, citing confidentiality restrictions, but have confirmed they’re set to withdraw from the process.
› Sheikh Jassim had committed an additional initial amount of over $1.5 billion for the Club (not the sellers) to finance new stadium plans, also new training centre facilities, buy players and city/community regeneration projects).
› As a result of these discussions and Sheikh Jassim’s proposition once again not being accepted — Sheikh Jassim informed the Glazers in the last few days that he’s set to withdraw from the process.
› Sheikh Jassim believes he would have been ‘dream owner’ – a fully cash bid, clearing all old debt, with zero new debt, for 100% of the Club.
› Jassim had hugely ambitious plans for the Club and communities projects across the city. He is the only bidder who has offered to buy 100% of Manchester United.
› Any minority investor – for example Jim Ratcliffe’s reported latest proposal to buy minority stake of the club – would leave the Glazers remaining at the club, which was never part of Sheikh Jassim’s vision.
› Also, as a reminder, a minority bidder has the luxury to value the club higher, because they’re only buying a small stake in the club (not 100%).
› remains to be seen if Glazers go with Ratcliffe’s minority offer after Sheikh Jassim’s planned decision.[ Fabrizio]
