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Manchester United, one of the most esteemed football clubs in English football, is reportedly in negotiations to sell the club to the consortium known as 92 Foundation, led by Sheikh Jassim bin Hamad al-Thani from Qatar.
According to sources familiar with the matter, the proposed deal could exceed $6 billion. This potential sale would involve the Glazer family, who currently own minority stakes in Manchester United and maintain control through a dual-class share structure.
Reuters reported that the Qatari offer is currently seen more favourably by the Glazers compared to a bid from British billionaire Jim Ratcliffe, who intends to retain some level of interest in the club.
Sheikh Jassim’s 92 Foundation emerges as the preferred bidder
The 92 Foundation, led by Sheikh Jassim bin Hamad al-Thani, has gained prominence as the leading contender to acquire Manchester United.
Recent reports reveal that a new UK company, Nine Two UK Holdings, was incorporated with Sheikh Jassim listed as one of the directors. This move follows previous announcements that his bid would be conducted through the Nine Two Foundation, paying homage to United’s renowned Class of ’92.
Sheikh Jassim’s bid, reportedly exceeding £5.5 billion, proposes complete control over the club, which has garnered support from a significant portion of United fans who have long called for the Glazers to sell their stake.
Speaking on Thursday morning in a video posted to social media, Manchester United club legend Rio Ferdinand said the Jassim takeover was close to completion.
Manchester United sale: Potential implications and reaction
Manchester United is widely recognized as a highly valuable asset in the world of sports.
If the deal with Sheikh Jassim’s 92 Foundation goes through, it would mark one of the largest sports deals in history, rivalling the sale of the National Football League’s Washington Commanders earlier this year.
The news of the potential sale has caused a surge in Manchester United’s shares, initially jumping nearly 15% before stabilizing.
However, it remains uncertain how long the exclusivity period for negotiations with Sheikh Jassim will last, as a new bid from Sir Jim Ratcliffe could potentially alter the situation. Manchester United and Sheikh Jassim’s representatives have yet to comment on the matter.
With the Glazer family considering a cash-out and Sheikh Jassim’s 92 Foundation emerging as the preferred bidder, the fate of the club hangs in the balance.
As one of the wealthiest football clubs globally, Manchester United’s potential sale could set a new benchmark for sports deals, attracting widespread attention and speculation within the football community.
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