Home » Sheikh Jassim Bin Hamad Al Thani set to complete full Man United takeover by mid October

Sheikh Jassim Bin Hamad Al Thani set to complete full Man United takeover by mid October

by Derick Kinoti

Qatari banker Sheikh Jassim Bin Hamad Al Thani is reportedly on track to complete a £6 billion takeover of Manchester United by mid-October.

Since November last year, when the Glazers announced plans to seek strategic alternatives including a full or partial sale of United, Sheikh Jassim has been embroiled in a hotly-contested rivalry against INEOS billionaire Sir Jim Ratcliffe to take over the reins at Old Trafford.

Recently, there were concerns that the Glazers had changed their minds and were no longer keen on parting ways with the Red Devils.

However, according to The Sun, the takeover is still expected to go through and if all goes to plan, Sheikh Jassim will be United’s next custodian.

“A date is pencilled in and an announcement [to declare Sheikh Jassim as the winner] could come as early as next month,” the indomitable Neil Custis writes.

“Sheikh Jassim’s team are now completing their due diligence on the club before they end the 18-year reign of the loathed Glazers.”

Custis adds, “The Glazers wanted to continue holding shares but were warned by senior Old Trafford figures there would be a huge backlash from the fanbase.”

As per The Sun, the expectation is that the Qatari royal will wipe out United’s gross debt which currently stands at an estimated £725m — the highest it has been since 2010.

Unlike the American family, Sheikh Jassim will not take dividends from the club.

He also committed to undertake a massive revamp of the Theatre of Dreams and the team’s Carrington training complex.

Both facilities are in dire need of upgrades after years of being neglected by the Glazers and their cronies.

United fans will be hoping this is not yet another false dawn and that it means we will finally be seeing the backs of their current owners. However, given Mr Custis’ reputation for reliability, it would be best if those hopes are not raised too high.

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