Sheikh Jassim remains optimistic on striking a full takeover deal at Manchester United, despite the Glazer family coming to an agreement over their shares. The Glazers have been in charge at Old Trafford since 2005 and teased that a full takeover was their plan when they invited offers to buy the club in November.
Sheikh Jassim and Sir Jim Ratcliffe are thought to be the forerunners for a full takeover, but with the transfer window quickly approaching fans are keen to see the process happen quickly. However, ESPN reported on Monday that a source ‘familiar with the situation’ had told them that a family agreement could see United’s co-chairmen and Glazer brothers Joel and Avram stay in charge at United with a minority of shares instead sold to attract the required investment.
They report that fellow directors Kevin, Bryan and Edward Glazer and Darcie Glazer Kassewitz are going to sell their shares in the club but the Glazer brothers would remain the majority shareholders. United already have investors ready to buy minority shares with The Independent stating that US private equity giants Carlyle Group Inc are ready to make a ‘major investment’.
The US hedge fund Elliot Management are also said to be amongst the ‘favourites’ to buy a minority shares. Investment firms Sixth Street and Ares are reportedly also showing interest in the developments at Old Trafford.
READ MORE: Man Utd takeover: Two other firms as well as Carlyle showing interest in new Glazers twist
However, the Guardian have reported that Qatari billionaire Sheikh Jassim ‘remains confident’ that he can buy the majority shares to give him control at Old Trafford this summer. The Raine Group, the New York bank overseeing the process, has set an April 28 deadline for third and final bids to complete a full takeover of United or buy a minority stake in the club.
Banker Sheikh Jassim has long been a United supporter and is prepared to spend big in order to end the 18-year tenure of the Glazers. It is believed that his offer for the Red Devils would be debt free while Britain’s richest man Ratcliffe would borrow as part of his deal.
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