Report: Qatar, Manchester United Negotiating Exclusivity

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Facts

  • The British Premier League club Manchester United is discussing granting exclusivity to the consortium led by Qatar's Sheikh Jassim bin Hamad al-Thani in $6B-plus sale talks, Reuters reported Thursday.1
  • Shares of the 20 League titles winner rose nearly 15%, eventually stabilizing and closing at $24.81 following the news — roughly a 7% increase from its opening price.2
  • The developments come as Jassim's Nine Two Holdings Limited was officially listed as a company in the UK. Documents reportedly show the Qatari banker is listed as a person with significant control of the business and one of its directors.3
  • However, it was later reported that exclusivity hadn't been granted and that negotiations with Jassim and another bidder Sir Jim Ratcliffe's Ineos Group, are still taking place.4
  • While the Glazer family, who own Manchester United, are yet to announce the identity of a preferred bidder, a new owner is unlikely to be in place before the next season as it could take a further eight to 12 weeks to complete the sale once a deal is agreed.5
  • Jassim reportedly wishes to buy the Club outright in a debt-free deal, whereas Ratcliffe is only interested in acquiring a 69% stake in a phased takeover.6

Sources: 1Reuters, 2Forbes, 3Manchester Evening News, 4BBC News, 5Times, and 6Sky Sports.

Narratives

  • Narrative A, as provided by Guardian. The Glazers have been terrible to Manchester United, but it doesn't mean their replacement will be any good, especially if the ownership is transferred to one of the world's most heinous regimes. Qatari owners pursuing to buy immediate identification with a global brand and British society have nothing meaningful to offer United fans in a potential takeover that would corrupt the club's soul.
  • Narrative B, as provided by Al Jazeera. Sheikh Jassim is a lifelong Manchester United supporter who wants to bring the glory days back to the club like any other United fan, promising hefty investments in the soccer team and local community, a renewed stadium, and improved training facilities. False allegations that this bid stems from the so-called Qatari "sport-swashing" are fueled by resentment from those ceding power to new actors.

Predictions