Latest Man Utd takeover news
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Sheikh Jassim could take Manchester United off the New York Stock Exchange if he ends up ousting the Glazers, it has been claimed. The Qatari billionaire is eager to purchase the Red Devils, despite Sir Jim Ratcliffe and two other parties from the United States showing interest. Delegates representing the Middle-Eastern supremo visited today and are believed to have held positive talks with the club, though it remains to be seen what ultimately ends up happening.
According to football finance expert Kieran Maguire, it is ‘highly probable’ that Sheikh Jassim would take United off the New York Stock Exchange.
And it’s claimed this would help the Qatari billionaire ‘reduce the level of financial scrutiny’.
Maguire told Football Insider: “I think it is highly probable that if Sheikh Jassim did acquire Man United that he would take the club off the New York Stock Exchange.
“It would reduce the level of financial scrutiny as they would only have to publish one set of accounts each year as opposed to the quarterly reporting that is in the rulebook in New York.
“It would have no negative impact as far as Man United’s commercial strategy is concerned as that deals with relationships with sponsors and partners as opposed to shareholders.
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“They could have fewer problems in the sense that they would not be subject to compulsory meetings with interested parties when the accounts are announced.
“They can have complete control of running the club both in the capital structure and key decisions regarding infrastructure and recruitment.“
Sheikh Jassim opted against travelling to Manchester today to hold direct talks with the club.
Instead, delegates from his party made the trip instead.
This included Shahzad Shabaz, President of the 92 foundation, and senior personal advisor Fady Backhos.
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Sam Powers, Global head at Bank of America, as well as Managing director Yasir Shah were aso present.
And various lawyers attended, too.
Ratcliffe, meanwhile, is hoping to buy United having previously missed out on purchasing Chelsea last year.
Though there have been suggestions the Glazers could end up staying, their time as owners actually appears to be ticking down.
It emerged on Wednesday that the family were ‘determined sellers’, in a development that will likely please fans of the club.
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The Glazers have ruled the roost at Old Trafford ever since 2005, when they bought the club for a fee of around £750million.
The trophies initially kept coming, with Sir Alex Ferguson steering the team to five Premier League titles in the years that followed.
Over the past decade, however, silverware has dried up.
Though United recently won the Carabao Cup, beating Newcastle 2-0 at Wembley, they’ve failed to claim a Premier League title since 2013.
And supporters are hoping a change of ownership will see the glory days return.
In February, via a statement, Sheikh Jassim confirmed his intentions to buy United – while also making some exciting promises to get fans on side.
“Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club,” the statement said.
“The bid plans to return the Club to its former glories both on and off the pitch, and — above all — will seek to place the fans at the heart of Manchester United Football Club once more.
“The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports.
“The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.
“More details of the bid will be released, when appropriate, if and when the bid process develops.”
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