January 18 – Details have emerged as to why Manchester United ended up opting for British investment instead of falling into Qatari hands.
For months United’s new investor Sir Jim Ratcliffe, who has acquired 27.69 % of the club, vied with a takeover bid fronted by Qatari banker Sheikh Jassim bin Hamad Al Thani who ultimately pulled out.
According to multiple reports quoting new documents on the club’s strategic review process, Sheikh Jassim failed to submit the “customary financing commitment letters” despite several requests for this information over the course of his five offers to buy the club outright.
Qatar ultimately withdrew their bid October 15, leaving it to become a one-horse race.
The deal with Ratcliffe and his firm, INEOS, will soon be ratified with the British billionaire also set to take over sporting operations at Old Trafford in a bid to restore the club’s glory days.
Although he settled for a smaller initial stake than intended, a full takeover remains the long-term plan.
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