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Jim Ratcliffe Secures 25% Stake in Man United & Takes Control of Football Operations
Manchester United: Sheikh Jassim Confirms Qatari Bid to Buy Premier League Club
Sheikh Jassim bin Hamad Al Thani, the chairman of one of Qatar's biggest banks, has confirmed his foundation will bid to buy Manchester United. BBC 17 FEB 2023 https://tbywordpress.s3.eu-west-2.am...1387d5afa4.jpg https://ichef.bbci.co.uk/onesport/cp...ldtrafford.jpg The move comes ahead of Friday's 22:00 GMT 'soft deadline' for submitting proposals. It is the second bid to be made public after businessman Sir Jim Ratcliffe stated his interest last month. "The bid plans to return the club to its former glories, said the Qatari consortium. The Glazer family, who bought United in 2005, are considering selling the Old Trafford club as they "explore strategic alternatives". And the Qatari consortium added: "The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports. "The vision of the bid is for Manchester United to be renowned for footballing excellence, and regarded as the greatest football club in the world." Described as a life-long Manchester United fan, Sheikh Jassim is chairman of Qatari bank QIB and the son of a former prime minister of Qatar. The statement from the consortium did not provide any details on the amount proposed to purchase the club. There are also expected to be at least two offers for United from the United States, while there have been suggestions of interest from Saudi Arabia. That means there could be up to five parties trying to negotiate a full sale, with others looking to make a smaller investment in return for a partial stake in the 20-time English league champions. Paris St-Germain president Nasser al-Khelaifi is set to be a key figure in any Qatari ownership bid, even if he could have no direct involvement in the club. Qatar Sports Investment (QSI), headed by Al-Khelaifi, had been looking at the potential for taking a smaller stake in a Premier League club. However, because of Uefa rules that prevent prevent multi-club ownership, any Qatari bid to buy United in its entirety would have to come through private individuals or a different organisation. The prospect of Qatari investment in a Premier League club - and two major European teams being owned by the Gulf country - has raised concerns among human rights and LGBTQ+ groups. Analysis BBC Sport's Simon Stone Discussion around dual ownership of football clubs and a potential conflict of interest between a potential Qatari purchase of Manchester United and their current ownership of PSG is being met quizzically in the Gulf state. They estimate half of the clubs in the Premier League are involved in dual ownership of one type or another. Manchester City's presence in the City Football Group is one example. West Ham part-owner Daniel Kretinsky is also president of Sparta Prague who, like the Hammers, were in the Europa League last season. They also note UK businessman Sir Jim Ratcliffe has already stated his intention to bid for United and there is no sign of him relinquishing control at French club Nice, who are four points off a European qualification slot. In addition, RB Leipzig and RB Salzburg have already been cleared by Uefa to enter the same European competitions. Given PSG chairman Nasser al-Khelaifi is also chairman of the European Clubs' Association, which has been working increasingly closely with Uefa, it is fair to assume any potential problem areas have been ironed out. Nevertheless, sources are insistent this bid is totally separate from the ownership of PSG. It is also being stressed the bid is indicative. The data made available in United's 'data room' has been disappointing, according to sources. Now the full detail around the financial state of the Old Trafford club has to be made available. It is being regarded as the start of the process rather than the end but, with plans also in place to invest in the wider Trafford area, Sheikh Jassim is deadly serious in his desire to take the club out of the Glazer family's control for the first time since 2005. |
re: Jim Ratcliffe Secures 25% Stake in Man United & Takes Control of Football Operations
Manchester United SOLD: Club Owners, The Glazer Family Accepts Qatari Banker Sheikh Jassim bin Hamad Al Thani Bid of £5 BILLION
Qatari banker Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe's Ineos Group submitted their final bids for Manchester United. The latest bid deadline passed at 22:00 BST on Friday. BBC News 29 APR 2023 https://e0.365dm.com/23/02/768x432/s...20230217205607 Sheikh Jassim had made a world-record bid in excess of £5bn to buy Man Utd with INEOS' majority-stake offer also submitted ahead of Friday's 10pm deadline. https://nybr.b-cdn.net/wp-content/up...-more-than.jpg Glazer family – wanted £6bn The chairman of Qatar Islamic Bank's final offer for the club was confirmed minutes before the 10pm deadline set by the incumbent Glazer family at the end of the third round of bidding, with fellow front-runner Sir Jim Ratcliffe, owner of INEOS, submitting his shortly after. Sheikh Jassim's offer would make United the most expensive sports team in history by at least £200m, eclipsing the £4.8bn ongoing deal to buy NFL side Washington Commanders, but still falls short of the Glazers' own valuation of the club at around £6bn. |
re: Jim Ratcliffe Secures 25% Stake in Man United & Takes Control of Football Operations
Sir Jim Ratcliffe Agrees Deal to Buy 25% Stake in Manchester United
Jim Ratcliffe - Boyhood Fan Has Bought 25 Per Cent of Manchester United Daily Mail 24 DEC 2023 https://pbs.twimg.com/media/GCH1s4lX...png&name=small https://i.dailymail.co.uk/1s/2023/12...15_634x445.jpg Sir Jim Ratcliffe has become part owner of Manchester United as one of the UK’s richest men has bought a 25 per cent stake in the club he supported as a boy. The billionaire has bought a share in the Old Trafford club, worth a reported £1.25billion, after Sheikh Jassim bin Hamad Al Thani withdrew his interest to end a lengthy process where he tried to buy the club outright. The 71-year-old has a reported net worth £12.5billion thanks to the success of global chemical company Ineos, which has enjoyed exponential growth since he founded it in 1998, and will assume delegated responsibility for the club’s football operations. He will also invest an additional 300 million US dollars (£236.7million) into the club’s infrastructure. |
Re: Jim Ratcliffe Secures 25% Stake in Man United & Takes Control of Football Operati
Ratcliffe Secures 25% Minority Stake in Man United and Vows to Lift English Club to TOP of World Soccer
Sir Jim Ratcliffe vows to turn Manchester United into 'a beacon for a fan-centred approach to ownership' and make them 'the number one club in the world after taking control of football operations at Old Trafford MailOnline 22 FEB 2024 https://i.dailymail.co.uk/1s/2024/02...71_634x422.jpg The 71-year-old Ratcliffe paid $1.3 billion for up to 25% of United and has already invested $200 million for additional shares, meaning he owns approximately 27.7%, the club said. United said Ratcliffe intends to invest a further $100 million by Dec. 31 "to enable future investment in infrastructure at Old Trafford." The deal had already been approved by the English Football Association while the Premier League has cleared Ratcliffe to take up a minority share under its rules regarding who is allowed to be an owner or director of a soccer club. Ratcliffe is one of Britain´s richest people and the owner of petrochemicals giant INEOS. He agreed to a deal to buy a stake in United in December after the Glazer family, which owns the club, put it up for sale in 2022. "To become co-owner of Manchester United is a great honor and comes with great responsibility," Ratcliffe said in a statement. "This marks the completion of the transaction, but just the beginning of our journey to take Manchester United back to the top of English, European and world football, with world-class facilities for our fans. Work to achieve those objectives will accelerate from today." The Glazers, who also own the Tampa Bay Buccaneers, eventually opted to sell a minority stake of the 20-time English champion after also fielding bids from Qatari banker Sheikh Jassim bin Hamad Al Thani. "I would like to welcome Sir Jim as co-owner," executive co-chairman Joel Glazer said, "and look forward to working closely with him and INEOS Sport to deliver a bright future for Manchester United." United hasn't won the Premier League since 2013, the last season of Alex Fergusons' nearly 27 years as the teams' manager. Uniteds' most recent Champions League title was in 2008. |
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