Glazers Reject Sheikh Jassim’s Bid To Buy Manchester United
The Glazers family, the owners of Manchester United, have turned down an offer from Sheikh Jassim to buy the club for $1.5 billion, according to Fabrizio Romano, a renowned football journalist.
Sheikh Jassim, a wealthy businessman from Qatar, had made an ambitious bid to acquire 100% ownership of Manchester United, with plans to invest in a new stadium, training center facilities, player acquisitions, and city/community regeneration projects.
However, his proposal did not meet the valuation set by the Glazers, who have been in charge of the club since 2005. Sheikh Jassim’s team confirmed that they have withdrawn from the process, citing confidentiality reasons.
Sheikh Jassim was the only bidder who wanted to buy the entire club and clear all its debts. He had a vision of becoming the “dream owner” for the fans, who have been protesting against the Glazers for years.
Other potential investors, such as Jim Ratcliffe, the richest man in Britain, have only shown interest in buying a minority stake in the club, which would leave the Glazers in control. Minority bidders can afford to value the club higher since they are not taking over the whole liability.
With Sheikh Jassim’s exit, it is unclear if the Glazers will entertain any other offers or continue to run the club as they have done for the past 16 years. The future direction of Manchester United’s ownership is still uncertain.
