07 November 2023 , 17:00
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Sheikh Jassim bears no ill will towards Manchester United but has no interest in reactivating any attempt to take over the club.
The Qatari businessman withdrew from the race to take over United last month. The INEOS founder and chief executive Sir Jim Ratcliffe now appears set to become a minority investor in the club – as soon as his £1.4billion deal to purchase 25 per cent of United is complete.
This is a somewhat convoluted deal in that Ratcliffe would become the largest individual stakeholder at Old Trafford, where he would take the lead on sporting matters at the club. However, he would still hold just a quarter of the club – although there is a longer-term view to buying more shares.
It has now been outlined by Sky Sports that Sheikh Jassim, whose takeover attempt lasted over ten months before withdrawing from the race, has no interest in reactivating any interest in buying the club. It is understood that it cost him £millions in legal costs to structure the bid, which he accepts was part of the risk of his move.
Paris Saint-Germain president Nasser Al-Khelaifi played a role in Sheikh Jassim’s move to buy United by advising the businessman on the move. Sheikh Jassim is not connected to Al-Khelaifi’s Qatar Sports Investments (QSI), which is currently planning to invest in several other football clubs, but the two do have mutual interests.
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QSI have owned PSG since their 2011 takeover and 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 that is unlikely to materialise, they have also explored deals in Spanish club Malaga and Brazilian giants Santos.
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Avram and Joel Glazer put Manchester United up for sale in November last year (Getty Images)The next step is for United’s board to ratify Ratcliffe’s bid, although it remains unclear as to when this will take place. Once that is approved, the INEOS holder will have the leading say on United’s sp
orting issues – although the Glazer family will continue to be present at the club despite their reduced influence.
Ratcliffe will have control of the football side at United with his stake, which raises questions over the futures of Football Director John Murtough and Darren Fletcher, the club’s Technical Director. The position of United boss Erik ten Hag is not under threat, despite the side's poor start to the season, but it is behind the scenes where the biggest changes could come with Ratcliffe's arrival.