Source: Sheikh Jassim Bin Hamad Al Thani to acquire Manchester United
Posted : 13 June 2023
According to Qatari media, Sheikh Jassim bin Hamad Al Thani, son of Qatar's former prime minister, is set to acquire Premier League club Manchester United. The news has caused a surge in the club's share price, with an 18% increase in early trading in New York.
Negotiations for the purchase have been ongoing for seven months, with British billionaire Jim Ratcliffe also being involved in talks to acquire approximately 60% of the club.
Al-Watan newspaper's Twitter account announced that the "acquisition of Sheikh Jassim" will be announced soon. Fahad al-Emadi, editor of Al Watan, echoed this sentiment, stating that the information they received suggests that Sheikh Jassim's acquisition is nearing completion and that the deal will be officially announced in the near future.
The Glazer family, the current American owners of Manchester United, initiated the sale process in late 2022 and the club's board of directors has been exploring strategic alternatives for the club.
On June 7, it was reported that Sheikh Jassim had made a fifth improved offer of $6.3 billion to purchase the club.
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