Manchester United’s prolonged takeover saga is reportedly nearing an end. As per English outlet The Sun, Qatari billionaire Sheikh Jassim has outbid British tycoon Sir Jim Ratcliffe and is set to assume 100% ownership of the Premier League giants.
Sheikh Jassim’s Takeover Announcement To Come Imminently
It has been claimed that Manchester United could announce the Sheikh as their new owners as early as next month (September). Unlike Ratcliffe, who would have allowed the Glazers to be contributing members of the board, the Sheikh would reportedly take complete control of the club, ousting their current owners.
According to the aforementioned report, the Sheikh would pay the Glazers a world-record £6 billion ($7.62 billion) for the club’s keys. The Glazers paid only £800 million ($1.016 billion) when they came on board as Manchester United’s owners 18 years ago.
Jassim has a multi-step plan to win over the club’s supporters
Sheikh Jassim would not be able to participate in the summer transfer window, as it would certainly shut before the takeover formalities conclude. So, there is no hope for a blockbuster signing to announce the new regime. However, the Sheikh has a multi-step plan in place that would make him an instant favorite amongst fans.
As per the Express, he would reportedly pay off the massive £725 million ($920.89 million) debt the Red Devils are carrying. Additionally, he does not plan to take dividend payments from the club, which the Glazers are infamous for.
After paying off the debt, which will allow United to save on interest, Sheikh Jassim would look to pay attention to the club’s facilities. He reportedly wishes to upgrade the infrastructure at Old Trafford and also bring the training ground complex, Carrington, up to global standards. Finally, he will invest in the team and bring in players who could improve Erik ten Hag’s squad.
It is believed that Jassim’s team is now doing their due diligence on the club before taking over. A sale of this magnitude demands patience, so fans must sit tight until the deal is ironed out for good. According to the aforementioned report, the change of ownership could officially conclude by the middle of October.
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