Man Utd negotiating exclusivity with Sheikh Jassim as Qatar takeover nears

15 June 2023 , 14:57

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The Glazer family, who have owned the club since 2005, would be cashing out as part of the deal according to the report (Image: (Photo by Michael Regan/Getty Images))

Manchester United are negotiating granting exclusivity to the takeover bid led by the Qatari consortium fronted by Sheikh Jassim bin Hamad al-Thani, according to Reuters.

The Glazer family, who have owned the club since 2005, would be cashing out as part of the deal according to the report.

Exclusivity has not been granted yet, but if it is then United would not be allowed to negotiate with any other party, and the Qataris would become the front-runners to complete one of the most expensive purchases in sporting history, with a final fee said to be approaching £6billion.

Reuters claim that Qatar is seen as the preferred option by the Glazers, with the consortium moving ahead of British billionaire Sir Jim Ratcliffe and his INEOS group.

Shares in United rose some 15 per cent following the news, although the market is still fluctuating.

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The news comes after the Sheikh's company, Nine Two Holdings Ltd, had appeared to be approved in the UK by Companies House, along with an address in Norwich Street, London, near Chancery Lane.

The company had been incorporated in the UK on June 15, with Sheikh Jassim listed as a director alongside Abdulrahman Al-Ansari.

The Sheikh could be granted exclusivity to buy the club (AFP via Getty Images)

The paperwork for this approval was sent to Companies House months ago, but shows that the Qataris have everything in place to proceed with a takeover should they prove to be successful.

On Thursday the former United defender Rio Ferdinand posted a video claiming that he had heard the Qatar takeover of the club was mere "hours away".

“The Man Utd takeover is imminent,” Ferdinand said in his Five channel on Youtube.

“We are hearing the Qatari bid is the one that has been accepted, the one that is imminent and the one that is going to go through. Hallelujah, man. I cannot wait. Please let this happen.

“Look how long this has gone on for. The Glazers have dug their heels in. It will go to the biggest bidder which is normal in negotiations but I want this to be resolved before the transfer window kicks in and now it is opening and starting to move.

The Glazers are set to sell the club this summer (AFP via Getty Images)

“I have woken up every day hoping that every day there will be a bid accepted. We are hearing that it is close.

"It will happen in a matter of days. If not a matter of hours. If it does not, we do not know how much money we have to spend and United will be playing catch up. So fingers crossed this information is really true – I have it from a good source that it is true.”

Mark Jones