The Manchester United takeover saga is still rumbling on, though reports now state Qatar’s Sheikh Jassim bin Hamad al-Thani has come out on top in the race to buy the Old Trafford club.
Qatari newspaper Al-Watan, via The Mirror – an outlet owned by his father and the country’s former Prime Minister Jassim bin Jaber Al Thani – claim that Jassim has prevailed in his bidding war.
Jassim, for now, remains one of two contenders in the battle to buy United, rivalling British billionaire Sir Jim Ratcliffe in a saga that has now lasted a number of months.
However, the latest reports have even had an impact on New York’s Stock Exchange, with Manchester United shares soaring by 24 per cent on Monday night.
But who exactly is the Qatari banker? What’s his net worth? And has he now overtaken Ratcliffe in the race to buy Manchester United?
Reports claim Qatari Sheikh Jassim bin Hamad Al-Thani has won the race to buy Man United
United have been on the market ever since the Glazers (pictured) announced they were open to a potential takeover back in November
Who exactly is Sheikh Jassim?
Sheikh Jassim is the chairman of Qatar Islamic Bank (QIB) and is also a member of the Qatari royal family. He spent much of his youth in the United Kingdom, going to school in Dorset before studying at the Royal Military Academy in Sandhurst.
Jassim would graduate as an officer cadet, and would go on to be a board member at one of the world’s biggest investment banks, Credit Suisse, before becoming a banker himself.
That’s where the details around Jassim become hazy. In fact, for someone who could soon possess one of the most famous faces in football, the lack of public knowledge on Sheikh Jassim is startling.
Much more is known about his father, Sheikh Hamad bin Jassim bin Jaber al-Thani, nicknamed both ‘HBJ’ and ‘the man who bought London’, however.
HBJ, who was prime minister of Qatar between 2007 and 2013, has given £2.6m in cash to King Charles across several face-to-face meetings, delivered in a variety of suitcases, a holdall and in Fortnum & Mason carrier bags.
This money went to charity, with the handovers very much legal.
Sheikh Jassim is the chairman of Qatar Islamic Bank and is a member of the Qatari royal family
His father, Sheikh Hamad bin Jassim bin Jaber al-Thani, was prime minister of Qatar between 2007 and 2013
Sheikh Jassim is a life-long United fan – but the one photo showing him in a club shirt has been described as ‘not an official picture’
He still faces competition from Ineos chief and United supporter Sir Jim Ratcliffe (pictured)
HBJ has also been involved in the running of Paris Saint-Germain, having been the former chair of the Qatari Investment Authority (QIA). The QIA owns the Qatar Sports Authority (QSA), who own PSG.
While UEFA do not allow an individual or entity to own more than one club in the same competition, Sheikh Jassim ensures he is independent from the QIA – and thus PSG – in theory solving that problem.
On a personal level, Sheikh Jassim is believed to be a life-long fan of Manchester United. He reportedly wears the club’s shirt during weekly five-a-side matches and has attended numerous games as a supporter.
There is only one photo showing Jassim in a United shirt, however, and a spokesman for his bid was ‘not able to confirm its authenticity’. His Nine Two Foundation, established to complete the takeover of United, is in fact a reference to the side’s famous Class of 92 squad, though.
Importantly, Jassim, who promises to restore ‘former glories on and off the pitch’, has ‘significant’ extra cash to spend on players and modernising Old Trafford on top of the funds he intends to use to buy the club.
What is Sheikh Jassim’s net worth?
Now, this isn’t the easiest question to answer. As stated, we don’t have an extensive catalogue of information on Sheikh Jassim to play with.
His father, Sheikh Hamad bin Jassim bin Jaber al-Thani, has a net worth of $1.2bn (£892m), according to Forbes.
Meanwhile, his family are believed to have a collective worth of circa £275bn.
And the head of the royal family – Sheikh Tamim bin Hamad Al Thani – is believed to be worth around £1.6bn alone.
What is the latest on Manchester United’s sale?
Reports, as stated, now claim that Sheikj Jassim has won the race to buy Manchester United.
Mail Sport reported over the weekend that both bidders in the battle for United – Sheikh Jassim and British billionaire Sir Jim Ratcliffe – were finalising their offers ahead of an expected decision on exclusivity later this week.
At one stage Ratcliffe’s Ineos company appeared to be out in front, yet those acting on behalf of Sheikh Jassim have been more optimistic about their chances following the dramatic submission of an improved offer last week.
The Glazers will emerge as winners as they look set to squeeze the most out of the sale process
Sheikh Jassim’s bid – understood to be worth around £5billion – is for total control of United, while Ratcliffe’s Ineos is for around 60 per cent of the club.
His offer comes with a proposal that would allow United’s current unpopular owners the Glazers to remain for a set time period ahead of a sourced buyout.
Yet if Al-Watan’s claim indeed holds up, Ratcliffe will have come up short in his effort to purchase United, the club he has supported all his life.
United’s takeover saga is now reaching its conclusion after what has been a long-winded seven months of speculation.
The Glazers first announced they were open to a sale all the way back in November, on the same night they confirmed Cristiano Ronaldo had left via mutual consent.
What has Sheikh Jassim said about buying Man Utd?
Sheikh Jassim mapped out his plans for Manchester United in February, when he outlined his intentions to buy the club.
Crucially, Sheikh Jassim insists he will ensure the club is completely debt-free, while vowing to invest in all areas of the club.
A statement released read: ‘Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
Sheikh Jassim vows to bring United – managed by Erik ten Hag – back to its former glories
‘The bid plans to return the club to its former glories both on and off the pitch and – above all – will seek to place the fans at the heart of Manchester United Football Club once more.
‘The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience, and communities the club supports.
‘The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.
‘More details of the bid will be released, when appropriate, if and when the bid process develops.’
