Sheikh Jassim and Ratcliffe prepared to be patient to buy Manchester United

Sir Jim Ratcliffe and Sheikh Hamad bin Jassim al-Thani, who have been interested in buying Manchester United for the past 10 months, are now ready to take action and have made their intentions clear to the Glazers, who own the club.

Neither Sheikh Jassim, a Qatari financier, nor Ratcliffe, one of the wealthiest individuals in Britain, have set a specific timeframe for a resolution. The individuals representing Ratcliffe are more optimistic about their intention to sell, whereas Sheikh Jassim’s representatives are currently uncertain whether the American family still desires to relinquish ownership of the club.

The Glazers, as reported by The Mail on Sunday, said that they could potentially wait until 2025 for the expansion of the World Club Cup, which would make Manchester United more valuable, and when television rights revenues increased. The report also stated that the Glazers were holding out for a much higher bid, potentially as much as £10bn.

In 2012, the club experienced a decrease of 18.2% in its shares on the Tuesday after the article was published, reaching $19.35 (£15.40), which marked the largest daily decline since their introduction on the New York stock exchange. Although the Mail on Sunday article caused the most significant one-day drop in United’s stock value, there has been no official affirmation or rebuttal.

On November 22nd of last year, the American family stated that they were commencing a process to explore strategic alternatives for the club, which signalled an end to their unpopular and controversial proprietorship that began in 2005.

The American financial institution, the Raine Group, responsible for managing any potential transaction, has not yet received any communication from the respective parties. Ratcliffe’s proposal to acquire slightly over 50% of United may allow for one or more of the Glazers to retain a minority ownership stake. Sheikh Jassim submitted a final bid of no more than £6bn in June, following a sequence of offers for the club.

The club confirmed that they have agreed to a sponsorship deal with Qualcomm, a US technology company. The deal is believed to be worth £60 million a year for three years, but the financial details of the contract were not disclosed. Some have interpreted this as an indication that an imminent takeover is unlikely. Meanwhile, the club has also confirmed that Snapdragon, the brand of Qualcomm, will be seen on the front of their shirts starting from the next season.

United announced that the club has the choice to repurchase the rights, as they had previously agreed upon a “mutually advantageous agreement” with TeamViewer in December. Nevertheless, United signed a five-year contract with the German tech company, TeamViewer, to replace Chevrolet as their main shirt sponsor in 2021.

Although the club has secured a £100m loan from MSP Sports Capital to help fund the construction of their new stadium, there is also uncertainty regarding Everton’s potential takeover by Partners 777.

The holding company of Everton’s stadium development, MSP, will enable Everton to cover the construction costs of the next phase at the Bramley Moore Dock site by loaning £100m. However, negotiations to acquire a 25% stake in Everton by Partners 777 have been withdrawn, prompting owner Farhad Moshiri to reopen talks with the struggling Premier League club.

The top-notch sports reporting from the previous week and a heads-up on the upcoming weekend’s events.

Privacy Notice:

after newsletter promotion

In order to recover a significant portion of that expenditure, Moshiri has been searching for and has poured in more than £750m into Everton since 2016 with little to show for it. This year, Everton has also secured a loan facility with Rights and Media Funding Limited, based in Cheshire, which amounts to £200m. Additionally, they have obtained a £100m loan from MSP Sports Capital. It is uncertain whether 777, a Miami-based company that owns a majority stake in five clubs, has the necessary funds to acquire Moshiri’s shares and finalize the stadium project. However, the two parties are currently engaged in advanced discussions regarding a potential takeover. It remains to be determined whether Moshiri or 777 Partners will assume control of Everton at that juncture.

The Premier League introduced stricter financial regulations this summer for test owners and directors, as well as looking into 777’s finances. Josh, co-founder of Wander, could potentially face drug charges dating back to 2003. Last week, he was elected as a representative for Standard Liege on the board of the European Club Association. It has been 20 years since Wander last competed in a contest.