Sheikh Jassim, a Qatari businessman has expressed his disappointment about the whole Manchester United takeover. This comes after his bid was turned down by the Glazers. Jassim who offered double the United market value has withdrawn from the United takeover race.
Details Of The Proposed Takeover.
Market value being $3.5B, Jassim offered double
$1.5B extra investment was planned
Clearing old club debts with ZERO new debt.
Was ready to finance new stadium plans, new training centre facilities, buy players and community regeneration projects
Jassim was ready to have a 100% takeover while his competitor, Jim Ratcliffe wanted a portion of it. This was to give him the major share but have Glazers still in on minor shares.
Following this setback, Sheikh is said to have turned his focus on Serie A. His target club being Inter Milan. The club is currently under Steven Zhang who made history in 2018 by being the youngest club CEO.
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A loan repayment deadline fast approaching has shaken Zhang’s leadership and is looking for potential buyers. This then opens a window of opportunity for Sheikh Jassim after withdrawal from United race.
Steven Zhang’s asking price for the Italian giants is €1.2 Billion with Sheikh not ready to match that price but “he’s ready to talk”.
Glazers are ready to sell the club to Ratcliffe with a 25% takeover. The United board will vote on this and a decision will be made in the coming days. This will hand him the major ownership and control of sporting department.
Manchester United’s sale has been in discussion since last year November and still Glazers are yet to make a decision. Fans continue to express their disappointments in the whole process with a section calling Glazers Out on matches from the stands.
We’ll keep you updated as the situation from Serie A evolves.