Sheikh Jassim Bin Hamad Al Thani of Qatar last night submitted a formal bid to buy Manchester United and leave the club “completely debt free”.
Sheikh Jassim remains interested in Manchester United
Sheikh Jassim is continuing to monitor the situation at Manchester United as Sir Jim Ratcliffe continues to face a backlash over his decisions.
Ratcliffe beat Jassim and his Qatari bid to buy a stake in United earlier this year. Jassim had submitted five bids to buyout the Glazers, but the Americans selected the British billionaire's offer instead.
The Ineos founder is now in control at Old Trafford, but has caused huge controversy with his decisions so far. He started by making 250 staff redundant, then raised all ticket prices to a minimum of £66 before sacking Dan Ashworth just five months after his arrival as sporting director.
Supporters launched a protest against Ratcliffe ahead of the win over Everton, with the Red Devils sitting in the bottom half of the Premier League despite sacking Erik ten Hag last month.
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According to the Daily Mail, Jassim is 'closely monitoring' the situation at United, though his group are not gloating. Instead, there is said to be 'deep sadness and regret' over what might have been had his bid been successful.
Jassim had drawn up plans for a major rebirth project named 'Project Ruby'. That would have seen an announcement that all debt had been removed and the club taken off the New York Stock Exchange the day after the takeover.
On day three, Jassim would have announced fully-funded plans for a new stadium. Ineos have delayed the decision on United's home until next summer, with a task force including Gary Neville, Manchester mayor Andy Burnham and Lord Coe still to deliver a recommendation
Sir Jim Ratcliffe
Sir Jim Ratcliffe won the race to buy a stake in United, but is facing problems
The Qataris also planned to hire rather than fire staff, earmark a fund for the women's team to build a new training centre and hand supporters a stake in the club. Sir Alex Ferguson was also to have been invited onto an advisory board.
Ratcliffe meanwhile decided to sack the legendary manager from his role as an ambassador. Jassim had also planned to keep out of football matters, instead bringing in former Premier League chief Richard Scudamore to run the club.
The Qatari banker had 'desperately wanted' to buyout the Glazers. Jassim only pulled the plug after a series of snubs and a rising feeling that he was being asked to pay 'hugely over the odds'.
The Qatar group is said to accept they made mistakes with their bid, including not making Jassim more visible. But Jassim is said to still be interested in United and is not looking to invest in a rival Premier League club.
If the chance to buy the Red Devils came up again, then it is said it is 'hard to see' Jassim not holding a big level of interest. His plans for the opening part of his reign remain intact.
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