Manchester United news as the power for change at Old Trafford could soon occur if fresh takeover interest emerges
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Avram Glazer, Sheikh Jassim bin Hamad Al-Thani and Sir Jim Ratcliffe
Avram Glazer, Sheikh Jassim bin Hamad Al-Thani and Sir Jim Ratcliffe
(Image: Getty Images)
The name Sheikh Jassim bin Hamad Al-Thani has resurfaced once again at Manchester United over two years since he launched his full takeover bid of the football club.
Before Sir Jim Ratcliffe and Ineos' takeover of the club, it was reported that Jassim had tabled a £4.79billion proposal to purchase the Glazers' stake via the Nine Two Foundation.
According to filings from last year with the U.S. Securities and Exchange Commission (SEC), Sheikh Jassim did not show adequate proof of funds and subsequently withdrew from the process.
It was also claimed that Sheikh had planned to erase the debt at Old Trafford, delist the club from the New York Stock Exchange and unveil proposals for a fully-funded new stadium.
Now, following reports that the Glazers could sell their stake of United later this year, MEN Sport brings you everything you need to know..
Failed bid
Sheikh Jassim's proposed takeover of United was met with caution by some in the fanbase. However, a statement of the Nine Two Foundation's intentions provided further clarity on what they had planned.
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It read: "The bid plans to return the club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United once more," they explained.
"The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports. The vision of the bid is for Manchester United to be renowned for footballing excellence, and regarded as the greatest football club in the world.
"More details of the bid will be released, when appropriate, if and when the bid process develops."
Fresh takeover bid
The Glazers will soon obtain the power to activate their drag-along rights, which ultimately means they can force minority shareholders, like Ratcliffe, to sell their shares when the majority sells their stake to a third party.
Sir Jim Ratcliffe
Sir Jim Ratcliffe watching Man United's Premier League defeat to Chelsea
(Image: Getty Images)
These rights come into effect in around three months' time, marking 18 months since Ratcliffe's minority takeover.
Sheikh Jassim stance
In December, it was claimed that Sheikh Jassim remained intent in securing full ownership of the football club. An advisor told the Daily Mail that Sheikh Jassim that it would be difficult to see him having no interest in a takeover if the opportunity presented itself.
"Sheikh Jassim is still a rich guy. He is still a United fan. He is not going to rush off and try another Premier League club. If the opportunity to buy the whole of Manchester United arose again at some point in the future, it is hard to see there not being a big level of interest. The plans are still there."
Glazers and Ratcliffe 'exit' agreement
Earlier this year, Bloomberg reported that the Glazers and Ratcliffe had agreed that they could sell of the stakes in United later this year, if they wished.
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The caveat is that both parties would have first refusal on these shares before they were made public to other parties. However, Avram Glazer has insisted his family were not interested in ending their involvement in the club.