The Qatar based takeover bid from Sheikh Jassim is set to be granted exclusivity in the next step of the takeover process, it is being claimed.
Reuters reports Manchester United are ‘negotiating granting exclusivity to the consortium led by Qatar’s Sheikh Jassim bin Hamad al-Thani.’
Earlier today former Manchester United defender Rio Ferdinand had claimed he had heard the takeover was ‘imminent’.
Reuters podcast had reported that Sheikh Jassim‘s offer was more attractive to minority shareholders, as he would purchase their shares – unlike Sir Jim Ratcliffe‘s bid.
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Sheikh Jassim bid
A new bid from Sir Jim Ratcliffe has now been ruled out, Reuters claims.
Their report states: “Manchester United would not be allowed to negotiate with any bidder other than Sheikh Jassim for the exclusivity period.
“It could not be learned how long this period may last. The sources cautioned that the situation remained fluid and a new bid from Ratcliffe could prevent Sheikh Jassim from securing exclusivity.”
BBC Sport’s Simon Stone urges caution on the reports.
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Earlier today The Mirror reported how Sheikh Jassim’s Nine Two Foundation has been approved as a UK based firm by Companies House.
Manchester United were put up for sale in November, and Sheikh Jassim has submitted five separate bids.
His latest offer is believed to have made the breakthrough, and an end to this process is long overdue so Manchester United can move forward.
Neither Sheikh Jassim nor Ratcliffe’s Ineos have responded to the developments publicly, and there is no statement from Manchester United at present.
The Glazers took over Manchester United in 2005, and this buyout would totally remove them from the club, whereas Ratcliffe’s offer had included a pathway for them to stay as minority investors.
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