According to The Sun, Qatari banker Sheikh Jassim is set to complete the takeover of Man United after agreeing a £6 billion price tag for the Glazer family. A set date for the Qataris to take over England’s most successful team is likely to be announced in mid-October.
The race for ownership of Man United has taken place between Sheikh Jassim and British billionaire Sir Jim Ratcliffe for several months. If the Qatar side wants to take full control of the 20-time English champion team, Ratcliffe is willing to allow the Glazer family to keep 20% of the Red Devils’ shares. But the race is now over, according to The Sun, an official date for the transfer of ownership to the Qataris has been set and the announcement could be made in mid-October – which is almost exactly a year since the family Glazer publicly wants to call for investment or sell the club outright.
Sheikh Jassim’s team is currently completing the club’s due diligence process before officially ending a controversial 18-year reign of American control. Man United fans will surely be pleased when the future of the club has turned a new page, completely breaking with the owners who have annually profited from the club’s reputation while leaving the club with huge debts. , since they took over for £800m in 2005. Man United’s most recent financial figures show total debt of £725m – the highest since 2010.
But this haunting number will be gone after new boss Sheikh Jassim takes over the team. The Qatari billionaire will not only pay that debt, nor will he even receive any dividend payments from the club, like the Glazers did. He also plans to upgrade Old Trafford and Carrington training ground, which are in disrepair, and pledges to invest heavily in the team to help the Red Devils restore dominance as quickly as possible.
This information is expected to make the atmosphere at Old Trafford more exciting in the match against Nottingham Forest on Saturday, where Man United aims for the second victory of the season. Previously, coach Erik ten Hag’s army won Wolves 1-0 at home, but lost 0-2 at Tottenham in the last round of the weekend.
