Sheikh Jassim bin Hamad al-Thani has not given up any hope of one day owning Man Utd.
Sheikh Jassim bin Hamad al-Thani remains optimistic about the possibility of acquiring Manchester United in the future, following the announcement of new protests against the current ownership. This week marks the 20th anniversary of the Glazer family’s contentious takeover of the club, coinciding with United’s anticipated worst finish in Premier League history.
Currently, the team is positioned 16th in the league and is implementing significant budget cuts across all departments to restore the men’s first team to form. Ruben Amorim expressed his embarrassment over the situation after his team suffered a 2-0 defeat at home to West Ham over the weekend. The 1958 supporters’ group has organized another protest against the club’s ownership ahead of the final Premier League match against Aston Villa next week, aiming to highlight the ‘greed, decay, and betrayal’ associated with the Glazer family.
As the club faces a staggering £1 billion in debt and is undergoing layoffs this year, Sir Jim Ratcliffe has proposed plans for a new stadium with an estimated cost of £2 billion. It is understandable that some fans preferred Sheikh Jassim’s investment in the club over Ratcliffe’s last year, as reports indicated he was willing to settle the club’s existing debt.
Sheikh Jassim stance on Manchester United takeover
It has been reported that Sheikh Jassim and the Nine Two Foundation submitted a £4.79 billion bid to acquire Manchester United entirely from the Glazer family. However, filings from the U.S. Securities and Exchange Commission (SEC) last year indicated that the Qatari was unable to furnish adequate proof of funds, leading to his eventual withdrawal from the acquisition process.
This withdrawal resulted in the Glazers accepting an offer from Jim Ratcliffe to purchase a 25% stake in the club for £1.25 billion, which placed the club’s valuation at £5 billion. The Daily Mail previously reported that Sheikh Jassim remains keen on any investment opportunity and aspires to own the team he allegedly supports.
A Qatari advisor stated, ‘He is still a United fan. He is not going to rush off and try another Premier League club.’ They added, ‘If the chance to acquire Manchester United in its entirety arises again in the future, it is difficult to imagine there would not be significant interest. The plans are still in place.’
Furthermore, the report suggested that Sheikh Jassim would have eliminated all of the club’s debt and disclosed his fully-funded proposals for a new stadium shortly after announcing a potential takeover. However, it is important to approach these assertions with caution, considering his previous inability to provide proof of funds during the initial bid.
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