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Phone call between Sheikh Jassim’s team and the Glazers ‘revealed’ as ‘direct talks’ held over Man Utd takeover
Phone call between Sheikh Jassim’s team and the Glazers ‘revealed’ as ‘direct talks’ held over Man Utd takeover
According to a journalist, a phone contact was made between the Glazer family and Sheikh Jassim’s Nine Two Foundation as the Manchester United takeover process continues.
Sheikh Jassim, the chairman of Qatar Islamic Bank (QIB), a Qatari businessman, has made repeated proposals for a full purchase of United through his Nine Two Foundation.
Sir Jim Ratcliffe, a British millionaire, has presented a proposal for majority control of the club with his petrochemicals company, Ineos.
On Tuesday evening, it was claimed that Sheikh Jassim had launched a fourth proposal for United through his foundation, with the Daily Mail describing it as a ‘take it or leave it’ offer.
According to The Athletic via Qatari agents, the deal includes investment in the Old Trafford stadium and the local community surrounding the club, and each of their four bids has involved eliminating the club’s debts.
However, the same source claims that Ratcliffe’s supporters are ‘confident’ that their effort would be successful.
Journalist Ben Jacobs has reported on the present state of play in the takeover process.
Jacobs reported on Twitter that the Nine Two Foundation has direct phone contact with the Glazers, albeit it is unclear whether this includes some or all of the family members.
Sky Sports reported in February that the Glazer family was divided over the club’s sale, with co-chairmen Joel and Avram Glazer alleged to be more hesitant to give up their shareholding in the club – however reporting on this has varied since then.
“Understand, all six Glazers remain determined sellers,” Jacobs stated. The latest offer from Qatar is now being evaluated.Even if the Glazers and the Raine Group spoke on the phone, the Raine Group remains in charge of the future steps. Raine is still a prominent topic of discussion.
“The process has not quite been bypassed. It’s just fluid, which is to be expected at this stage. It’s likely to remain this way until a preferred bidder is selected.”
On the current stance of both Ratcliffe and Sheikh Jassim, Jacobs added: “Games continue to take place. But Nine Two Foundation sources have hinted for two weeks that they may go direct.
“Sir Jim Ratcliffe’s offer remains flexible. Much has been made of the option to retain control with the Glazers, but INEOS are also quite prepared to buy all 69 per cent of their shares as well.
“Ratcliffe is simply after control and prepared to get it in a variety of ways.”
Phone call between Sheikh Jassim’s team and the Glazers ‘revealed’ as ‘direct talks’ held over Man Utd takeover
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