Sheikh Jassim stance revealed as UK Government flag concerns over Qatari bid for Manchester United

A respected journalist has dropped a key update on Sheikh Jassim's bid for Manchester United amid claims that figures within the UK government have developed concerns.

Bloomberg reported on Tuesday that senior Government figures working in football governance had flagged concerns over the Qatar-based bid.

It is claimed that the concerns relate to previous regulatory failings at the Qatar Islamic Bank, of which Sheikh Jassim has been chairman since 2006.

Bloomberg report it is based on a £1.4 million fine that was imposed on the UK unit of the bank in 2016, by the Bank of England, for 'violating capital requirements that left the firm exposed to high levels of risk'.

Speaking after the fine was administered, Andrew Bailey, the current governor of the Bank of England - then the CEO of the Prudential Regulation Authority - said (quotes via Daily Mirror): "In failing to assess, maintain and report on its financial resources for over a year, QIB failed to meet some of the most basic regulatory standards.

"It is essential that regulated firms are aware of, and have the systems in place to ensure adherence to regulatory requirements. QIB's failures in this regard were serious, which is why we considered it appropriate in this case to impose a fine."

The PRA did recognise that the QIB had 'undergone significant restructuring', as well as putting a new board in place.

Sheikh Jassim submitted a second bid for United last month. Sir Jim Ratcliffe/Ineos and Elliott Management are two of his main competitors when it comes to taking over the club from its current owners, the Glazer family.

Journalist drops key Man Utd takeover update

However, the Daily Mail's Mike Keegan reports that those behind the Qatar-based bid believe they will not face opposition from the UK government in their attempted takeover of Manchester United, should the bid be successful.

The report claims that 'those involved with the bid 'have no concerns over such a scenario'.

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It is added that the Qatar Islamic Bank fine relates to a breach which occurred in 2011, even though it was administered in 2016, and that Sheikh Jassim is using his Nine Two Foundation to bid for the club, not QIB.

The UK government are yet to comment publicly on Sheikh Jassim's bid for United, or on the Bloomberg report from earlier this week.