Manchester United Ownership Saga: Glazers Reject Multibillion Offer from Sheikh Jassim

The Glazers’ 18-Year Ownership of Manchester United

For the past 18 years, the Glazer family has maintained ownership of Manchester United, having acquired the football club for a sum of less than £800 million in 2005.

However, the tenure of the Glazers has been marked by a series of protests, particularly since the retirement of the club’s legendary manager, Sir Alex Ferguson, in 2013.

Sheikh Jassim’s Generous Offer Rejected

A prominent development in this ongoing saga was Sheikh Jassim’s substantial offer to acquire Manchester United, valuing the club at over £5 billion.

Despite what seemed like an attractive proposal, the Glazers repeatedly turned down Sheikh Jassim’s offers, leading the Qatari billionaire to abandon his pursuit.

The Valuation Dispute

The primary point of contention between the Glazers and Sheikh Jassim revolved around the club’s valuation.

Despite an increased offer made by Sheikh Jassim in June, it fell short of satisfying the Glazers, even though it significantly exceeded the club’s valuation of $3.3 billion on the New York Stock Exchange.

This valuation disparity led to the apparent breakdown in negotiations.

Alternative Plan with Sir Jim

In light of the failed negotiations with Sheikh Jassim, a new plan has emerged, featuring Sir Jim as a key player.

Sir Jim, a lifelong supporter of Manchester United and a billionaire in the petrochemicals industry, is looking to acquire approximately 25 percent of the club.

This alternative proposal is expected to be considered and likely approved during the upcoming United board meeting.

Uncertain Future Amid Protests

Protests against the Glazers’ ownership have been ongoing and gaining momentum, fueled by Manchester United’s underwhelming performance in the 2023-24 season.

The team’s struggles include losing four of their first eight Premier League games and experiencing defeats in both Champions League group stage matches.

This continued discontent has kept the future of Manchester United’s ownership uncertain.

Sheikh Jassim’s Ambitious Offer

It is noteworthy that Sheikh Jassim’s offer, if accepted, would have made Manchester United the most expensive sports team in history, exceeding the previous record set by the acquisition of the NFL team Washington Commanders.

Nevertheless, it still fell short of the Glazers’ valuation of the club, which was reported to be around £6 billion earlier this year.

MUST’s Call for Clarity

The Manchester United Supporters’ Trust (MUST) has called upon the Glazer family to “make their position clear” in light of these developments. Following Sheikh Jassim’s withdrawal from the bid, MUST issued a statement expressing hope that the situation would be resolved soon, given the uncertainty surrounding the club’s ownership over the past year.

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