Sheikh Jassim confident of Manchester United deal amid new minority interest
After learning that the Carlyle Group, a US investment group, wants a minority position in Manchester United and that the Glazers have asked Raine, the bank overseeing any sale, to review the offer, Sheikh Jassim bin Hamad al-Thani is still optimistic that his proposal would be successful.
Another US fund, Ares Management, is rumored to be considering a similar arrangement. The Qatari banker Sheikh Jassim wants to buy the entire United through his Nine Two Foundation, despite Carlyle, Ares, and Elliott Investment Management wishing to purchase a portion of United from one or more of the six Glazer siblings.
He claimed there would be no debt involved in the takeover. One of the wealthiest persons in Britain, Sir Jim Ratcliffe, wants to purchase a controlling position but has stated that he would borrow money as part of any agreement.
Joel Glazer, the eldest of the siblings, holds the most stock, with 19.11%. His sister Darcie has 18.15 percent, Bryan 17.23 percent, Avram 14.38 percent, Kevin 13.77 percent, and Edward 12.99%. If adequate financing can be secured, it is believed that Joel and Avram intend to keep their holdings in the company. Therefore, the possibility of a deal with Carlyle, Ares, Elliott, or a comparable investor is being considered.
Rather than a full sale of the club, the Glazer family are now expected to seek a minority investment, in a move which could end up dashing the hopes of Sir Jim Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani. Joel and Avram Glazer would use the money from that investment to buy out their siblings and remain in control at Old Trafford.
If this transpires, it would represent a bitter blow to those who hoped the Americans would be leaving United after 18 tumultuous years as owners. Instead of a new face coming in, it would now be up to the Glazers to bring about the infrastructure changes the club badly needs.
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