Similar to DFS, Old Trafford is having an ongoing sale with no end in sight.
The Glazers said that Manchester United will be “exploring strategic alternatives, including a sale” over a year ago, but nothing has changed at the top. Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe’s INEOS have made many proposals, but they have always fallen short of the Glazers’ demands.
Despite the club’s stagnation, it was once estimated to be worth £6 billion, but it is now said to be closer to £10 billion. For those who are really interested, the latter amount may appear unaffordable, but insiders maintain that efforts are still being made to locate fresh investors.
Jassim Sheikh
Regarding Sheikh Jassim’s bid, everything is straightforward: either 100% or nothing. It’s long been known that the Qatari billionaire is only prepared to get complete control of United, whom he claims to have supported throughout his life, just as he did with Ratcliffe.
When Sheikh Jassim first established the Nine Two Foundation in March, he seemed to have the ability to outbid his competitor bidder with a proposal that was debt-free. This was before he and his entourage visited Old Trafford. It seems that his fifth and last offer, which he put on the table in June, is still on the table.
There was encouraging news two months later for those hoping to see Qatari billionaires pouring money into Old Trafford: Sheikh Jassim, the son of an ex-prime minister of Qatar, would complete the acquisition by mid-October, according to reports from the Sun. His £6 billion offer was said to have persuaded the Glazers, but radio silence persisted until September, which only served to heighten doubts about the Middle Eastern strategy.
At Old Trafford, there are those who hold power. Let’s talk about the Glazers. As previously noted, estimates of the Glazer family’s asking price have ranged from £6 billion to £10 billion; nevertheless, neither Ratcliffe nor Sheikh Jassim seem to have been put off by the rumors.
The two bidders, though, will be concerned about the possibility that the Americans would choose to forego a complete sale in favor of a minority stake. According to reports, a number of US investment firms have been putting out investment ideas, including Elliott Management, the Carlyle Group, and Ares Management.