Sheikh Jassim could switch to Man Utd Premier League rival for new takeover bid
Sheikh Jassim has withdrawn from the race to take over Manchester United and the Qatari businessman could now reinvigorate interest to invest in Tottenham.
The Qatari businessman had been one of two frontrunners – alongside Sir Jim Ratcliffe – in the United takeover race, after the Glazer family opened up the process in November last year. Ratcliffe is now poised to buy a 25 percent share of the club – with a long-term view to a complete takeover at Old Trafford.
United’s board will now vote to ratify investment from Ratcliffe, Britain’s richest man, this week – a move which will see him become the club’s largest individual shareholder as he looks to assume control over sporting decisions. However, the next step of Sheikh Jassim remains unclear, although it is believed he is keen to invest in the Premier League.
Qatar hosted last year’s World Cup but they have seen regional rivals Saudi Arabia and Abu Dhabi gain a foothold in the Premier League through Newcastle and Manchester City respectively, and it is believed senior figures are keen to invest in an English top-flight club.
Paris Saint-Germain president Nasser Al-Khelaifi played a role in Sheikh Jassim’s proposed bid to buy United amid talks to buy clubs in Spain and Brazil. A report earlier this year in The Athletic outlined how, as part of his offer to buy United, Jassim's team initially consulted Al-Khelaifi for advice on United's valuation, after the Glazers wanted £6.4billion for the club.
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Al-Khelaifi’s Qatar Sports Investments (QSI) – who have owned Paris Saint-Germain since their 2011 takeover – are hopeful of expanding their portfolio with minority investments in multiple clubs. Earlier this year, he met with Tottenham chairman Daniel Levy to talk about potential investment into the club.
While QSI may not invest in Spurs, it is possible that a consortium led by Sheikh Jassim could move to buy the club. It would be a similar move to QSI’s investment in Paris, as Spurs would represent a foothold in the capital of England and one of the most noteworthy clubs in the highest profile league.
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Avram and Joel Glazer put Manchester United up for sale in November last year (Getty Images)Alongside owning 100 percent of PSG, QSI have a 21.67 percent stake in Portuguese club Braga – widely recognised as the fourth biggest club in the nation – but they are thought to be hopeful of becoming minority investors in another European club in continental competition, alongside at least one South American club.
Indeed, QSI have held talks to invest into two others club in recent months. There has been interest in investing in Spanish club Malaga, who were relegated to the Spain’s third tier ahead of next campaign.
Malaga are currently owned by Abdullah Al Thani – from the Qatari ruling family and a distant relative of Qatar's previous ruler Sheikh Hamad. Despite initial heavy investment into the Andalusian club after buying them in 2010 – including reaching the Champions League quarter-finals in 2012-13 – their fortunes have plummeted since.
Al Thani’s investment into the club dried up and they slid into chaos. They were relegated from La Liga in 2018 and their latest relegation could throw their very existence into question.
QSI are also in the process of examining a move to buy Brazilian giants Santos – who want more economic capacity. They have even asked the club’s president Andres Rueda for the financial accounts of Santos to be studied ahead of a potential move.
The information is detailed in Brazilian outlet Globo which details how the father of Neymar – who started his career at the club before joining Barcelona – has acted as an intermediary in the potential takeover plans.
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