The prospect of a new takeover bid for Manchester United by Sheikh Jassim Bin Hamad Al Thani has been ruled out by Sky Sports, though he wishes the club well and wants them to be as “successful as possible.”
Speaking on the Sky Sports news channel, Kaveh Solhekol (video below) revealed Sheikh Jassim “remains a Man Utd supporter” despite his efforts to gain control of the club ultimately failing.
Sheikh Jassim remains a Man Utd supporter and wants them to be as successful as possible despite failing to agree a deal to buy the club from the Glazers 🔴 pic.twitter.com/AmtquE9CFz
— Sky Sports News (@SkySportsNews) November 7, 2023
The Qatari banker’s bid, which was directed through the 92 Foundation, was for one hundred percent ownership at Old Trafford, worth in the region of £5 billion.
Solhekol reports that the Glazers were asking for £6 billion to secure such a deal.
Sir Jim Ratcliffe rivalled Sheikh Jassim with the INEOS owner the only other credible contender in the takeover race, which was sparked last November when the Glazers announced they were considering a “strategic review” of the club, which would include a potential sale.
Ratcliffe’s flexibility ultimately saw him outmanoeuver his competitor, agreeing a minority stake deal for 25% ownership, worth a fee around £1.25 billion.
The bid has a reported infrastructure investment pledge attached to it – worth £245 million – meaning Ractliffe’s propsal totals an investment of roughly £1.5 billion, subject to ratification.
There had been rumours, mostly on social media, that Sheikh Jassim could perform a stunning u-turn and return to the process with a new bid. Solhekol refutes this idea, however.
The Sky Sports news reporter reveals the Qatari banker is no longer “in the picture” for a takeover bid, with “no indication” that will change.
The team responsible for Sheikh Jassim’s bids has been “disbanded” with the unsuccessful process costing the businessman “millions of pounds”; losses he has been forced to absorb with no return.
As such, there is considered zero possibility he will reverse his decision to withdraw from negotiations, originally citing an “unrealistic and fanciful” evaluation by the Glazers for the price of their club as the reason.
Solhekol contends Sheikh Jassim’s support of the club has not wavered, however.