After a protracted and highly anticipated process to determine the next owner of Manchester United, emerging reports indicate that Sheikh Jassim bin Hamad al-Thani has emerged as the successful bidder for the English club.
These reports, originating from Qatari outlet Al-Watan, owned by a member of the Al Thani family, suggest that Sheikh Jassim’s bid to purchase Manchester United has been successful.
While an official announcement of the deal is expected in the near future, this news comes after a long battle between Sheikh Jassim and Sir Jim Ratcliffe for ownership of the club.
The Ownership Battle
For several months now, two billionaires, Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe, have been vying for control of Manchester United.
Initially, Ratcliffe was believed to be leading the race for the club’s takeover, but Sheikh Jassim’s recent bid altered the dynamics of the competition.
The Glazer family, the American owners of Manchester United, announced their intention to explore strategic alternatives in November of the previous year, leading to the current ownership battle.
Share Price Surge
However, recent reports of an imminent decision on exclusivity and the potential resolution of the takeover saga have had a positive impact on the club’s share price.
Manchester United’s share price has reached its highest value in a month, signaling growing investor confidence amid the potential takeover.
On Monday, the share price soared to $20.14 per share, marking a substantial increase of nearly one dollar in just 24 hours.
This surge contrasts with the dip experienced on May 12, when the price fell to just over $18 per share, a decline from its 2023 peak of $26.64 in February.
Before the Glazer family’s announcement to sell the club, the share value hovered around $12, indicating the impact of the ongoing ownership uncertainty.
Man United stocks 📈
— The United Stand (@UnitedStandMUFC) June 12, 2023
[via @OddsOnFPL] pic.twitter.com/xJUn1QcOVg
The Glazer Legacy and Fans’ Frustration and Expectations
The Glazer family’s tenure at Old Trafford began in 2005 through a highly leveraged deal that burdened Manchester United with significant debt.
Their ownership has often been a source of frustration for fans, who believe the family prioritizes financial gain over the club’s success. Consequently, the prolonged sale process has only fueled anger and frustration among supporters.
The lengthy process of finding a new owner for Manchester United has left supporters frustrated and concerned.
There is a prevailing fear among fans that the Glazer family might retain some level of control, despite the anticipated change in ownership. This uncertainty has also affected the club’s stability and planning for the upcoming season.
Manchester United manager Erik ten Hag, eager to finalize the budget for the summer transfer window, hopes for a swift conclusion to the ownership saga, bringing much-needed stability to the team.
