Manchester United Takeover: It seems the race to buy Manchester United is finally coming to an end. The Glazers have been on the lookout to sell the club for quite a while now and have entertained bids from different parties. While earlier reports claimed British Billionaire, Jim Ratcliffe, was the front runner to takeover the Red Devils, a recent report from Qatar outlet Al-Watan has claimed that Sheikh Jassim has come out as successful party.
Sheikh Jassim bin Hamad Al Thani, a financier from Qatar, submitted what his side characterized as a fifth and final offer last week in an effort to close the transaction against Sir Jim Ratcliffe. That followed rumors that the wealthy INEOS was likely to receive approval from the Glazer family.
According to the Qatari publication Al-Watan, which is run by Sheikh Jassim’s father and the nation’s former prime minister, Jassim bin Jaber Al Thani, Sheikh Jassim’s proposal to purchase all of United has now prevailed.
The outlet tweeted on Monday night that the deal would be announced “shortly.” It would provide some form of resolution to a long-running saga. In November, it was revealed that the Glazer family, who had owned United since a leveraged acquisition in 2005, had started a procedure to “explore strategic alternatives” for the team.
Manchester United’s share price has risen because traders are ‘betting’ on Sheikh Jassim bin Hamad al-Thani of Qatar acquiring the club.
Amid reports of Sheikh Jassim taking over the Red Devils, the club’s share price has been rising. On Tuesday morning, the price increased to $25 per share, which adds close to $1billion to the club’s value.
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