Man Utd takeover: Sheikh Jassim wins race, but there's a catch

Stuart Telford

• Updated: 6 Aug 2023 03:00 CDT
• 3 min read

Sheikh Jassim bin Hamad Al Thani has reportedly won the race to take over Manchester United, but the Qatari royal will have to wait before being handed the keys to Old Trafford.

United's sale has been dragging on since last November, when the Glazer family first started inviting bids for the club.

The family patriarch Malcolm paid £800 million for Man Utd in 2005 in a heavily debt-leveraged take-over, but 18 years on his children have been demanding a fee in excess of £5 billion.

READ: Man Utd Transfer News: Amrabat DESPERATE, takeover BREAKTHROUGH, Kudus UPSET

Sheikh Jassim and Sir Jim Ratcliffe, formerly the UK's richest man, were understood to have met that valuation, but approaching the end of the summer 2023 transfer window the Red Devils remain in the Glazers' hands. However…

'Deal done by November'

"Manchester United are convinced they will get a deal done by November to sell the club to the Qataris," reports the Sun's Neil Custis. "Discussions are understood to have taken a big leap forward in recent weeks, with a £6 billion sale now close."

Jassim's team are reportedly doing due diligence ahead of a final formal offer, which will exceed the world record $6.05bn (£4.75bn) a Josh Harris-led consortium paid for the NFL's Washington Commanders in July.

READ: Hojlund completes €75m move to Man Utd

It means United will be under new ownership a full year after the Glazers put them up for sale, and the majority of fans will be glad to see the back of the American ownership.

United have nonetheless been active in this summer's transfer market. The Red Devils have already spent more than £160 million on signing Rasmus Hojlund, Mason Mount and Andre Onana from Atalanta, Chelsea and Inter Milan respectively.

They have also handed club legend Jonny Evans a one-year contract following his release by Leicester City.