Why Sheikh Jassim’s bid for Manchester United failed | Football

Sheikh Jassim’s bid for Manchester United failed (Picture: Getty)

Qatar’s bid to buy Manchester United failed because Sheikh Jassim and his representatives failed to provide the proof or source of its funding.

Sir Jim Ratcliffe has secured a 25% stake in the club after the Glazers accepted a £1.3bn bid from the British billionaire.

Ratcliffe, like Jassim, had intended to buy United outright, though the 71-year-old made a number of revised bids.

Jassim, who claimed to be a boyhood United fan, was reportedly willing to pay £4bn for the club, wipe its debt of around £1bn and invest further significant fees into the stadium and the community.

However, the Qatari never once provided proof of his funding or its source.

On top of that, Jassim failed to meet the Glazers’ asking price of £4.55bn for the club and bid around £3.9bn instead – which did not include the £1bn of debt.

Sir Jim Ratcliffe visits Carrington Training Complex

Ratcliffe has taken a 25% stake in the club (Photo by Manchester United/Manchester United via Getty Images)

That’s despite several meetings with the Qatari’s representatives, which made it clear what he would have to do to get his hands on the club.

Jassim’s team widely briefed that their bid was the largest on the table, but Ratcliffe showed his flexibility by dropping his offer to a 25% stake.

Ratcliffe’s stake will eventually rise to around 29% when he pumps a further £235m into the club, which is intended for stadium redevelopment.

The Premier League are expected to ratify the deal in the next four to six weeks, which will give Ratcliffe full control of football operations at the club.

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