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Reports in Qatar claim Sheikh Jassim has won the race to buy Manchester United

Reports in Qatar claim Sheikh Jassim has won the race to buy Manchester United

Sheikh Jassim's bid to buy Man Utd has been successful, according to reports in Qatar.

Sheikh Jassim has been successful with his bid to buy Manchester United, according to reports in Qatar, who suggest the announcement of a deal will be made 'very soon'.

Last week, Sheikh Jassim, whose full name is Sheikh Jassim bin Hamad Al Thani, submitted an 'enormous' fifth and final bid to complete a full takeover of United from its current owners, the Glazer family.

The latest offer was understood to be worth around $6.5 billion (£5.2 billion), with a proposed $1 billion (around £800 million) for investment on top of that.

Nine Two Foundation sources also claim the offer is at an 'enormous premium' on the club's current share price.

Five days after news emerged surrounding a fifth and final bid, a report from Qatar outlet Al Watan, an organisation that his father Jassim bin Jaber Al Thani owns, says the offer has been successful.

The outlet tweeted on Monday night that an announcement of the deal would come ‘soon’.

Fahad Al Emadi, the editor of Al Watan newspaper, added: "All the news received indicates the success of Sheikh Jassim bin Hamad bin Jassim’s acquisition of Manchester United, and the announcement of the deal will be very soon."

Zaid Al-Hamdan, who is the Vice Chairman of the Canadian Qatari Business Council and Chairman of Armasite Group, congratulated Sheikh Jassim on his so-called 'successful' acquisition of Manchester United on Monday evening.

It should be noted that Al-Hamdan is followed by Sheikh Jassim’s brother on Twitter.

BBC economics editor Faisal Islam, who says the Glazers were trying all methods to squeeze the Jassim bid, reported that shares spiked at 17 per cent after the reports emerged.

"To explain - reason share price is a gauge of perceived likelihood of Qatar victory, is Jassim bid is for 100% of shares and will pay out on NY listed shares at takeover price," he wrote on Twitter.

"Ineos bid is believed to be focussed on the Glazer shares alone, listed shares won’t immediately benefit."

He added: "In after hours trading in NY, Manchester United shares spiked 17%… that is traders betting the Glazers are about to sell to Sheikh Jassim of Qatar…. Everyone involved keeping tight lipped though."

Qatari outlets have been relatively quiet when it comes to publishing news on the takeover bid, so these latest reports from the Middle East could suggest there is weight to the news.

If the reports are indeed correct, then it would result in a world-record sale for a sports club. Todd Boehly and his consortium of bidders purchased Chelsea for £4.25 billion in February last year.

As mentioned above, United will likely get a big transfer pot if a takeover happens. Erik ten Hag, meanwhile, was recently asked if he knew how much he has to spend on players this summer.

“No, I don’t have an influence on that, I don’t have and also I don’t know," he said.

Image credit: Alamy
Image credit: Alamy
"The only thing I know is that Manchester United is one of the biggest clubs in the world, one of the biggest two or three from a fanbase perspective.

“The club has to compete for the highest in the world – the Champions League and Premier League. But in football, you need funds to construct squads because, at the end of the day, the level of your players decides if you are successful or not.

“Everyone knows you need funds to construct a squad and high-level players cost a lot of money. That’s the situation nowadays in top football.

“I think it’s clear what I want, but it’s not up to me. It’s about others in this club. The family are the owners, they make the decisions, and it’s not up to me. I do everything I can and I influence the processes that I’m in charge of.”

Featured Image Credit: Alamy

Topics: Manchester United, Premier League, Qatar, Erik Ten Hag