How Sheikh Jassim reacted to Glazers decision as Manchester United takeover bid fails
How Sheikh Jassim reacted to Glazers decision as Manchester United takeover bid fails
Sheikh Jassim feels “let down” by the Glazers after failing to reach an agreement for the sale of Manchester United.
That is the view of football and financial expert Kieran Maguire, who talked at length about the state of United’s ownership on his podcast, The Price of Football. Maguire has connections to Jassim and those involved in the push for a Saudi takeover.
Jassim had supposedly placed an offer in excess of $6billion (£4.9bn) on the table to buy all of United’s shares. They wanted to innovate the club both on and off the pitch, and Maguire said “From what I understand, there was a $1.7-billion reconstruction fund which would have gone not only to issues on the pitch but perhaps, more importantly, the state of Old Trafford which is not fit for 21st-century football.”
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Maguire claims that the biggest issue was how the Glazers tried to take advantage of Jassim’s wealth and status in the Middle East. He says United’s American owners eventually left those involved in the Saudi takeover bid “fed up”.
Maguire added: “Sheikh Jassim said, ‘Well actually, I have been reasonably successful and part of the reason I've been successful is that I don’t get my trousers taken down in negotiations.’ I think they just feel very let down by the attitude of the selling party."
Many reports have Sir Jim Ratcliffe as the leading contender to go into business with United but he would only be buying 25% of the shares. This would mean that the Glazers remain in control of the club and Maguire sees the deal as "the worst of both worlds".
He said: “Sir Jim Ratcliffe is absolutely brilliant at turning around failing businesses but football is not like any other industry. The view was that it’s 25% now with a view to being able to have a controlling stake by 2026. That’s three years down the line. Is that another three years of leaking roofs?
