Manchester United Set To Have New Qatari Owner – Sheikh Jassim

Sheikh Jassim is set to complete his full £6billion takeover of Manchester United by October. Sir Jim Ratcliffe reportedly lost the competition to become the new manager of Manchester United to him.

Since the club was first placed up for sale in November, the saga has dragged on for several months. The Red Devils cost the Qatari royal approximately £6 billion ($7.9 billion). According to the story, Jassim will assume ownership on a specific date, and the much-maligned Glazer family would not be allowed to have a share in the team.

British businessman Ratcliffe, who was the major contender to Qatari bid, is beleived to have included the Glazers’ continued ownership of the club in his proposal. Jassim will instead complete a total takeover of United. He wants to continue improving the playing squad while spending money on the club’s stadium and infrastructure.

They will make a healthy profit having lumbered United with massive debts when they completed their £800million takeover back in 2005. The servicing of that debt has since cost United over £1bn. Their last financial figures showed that the gross debt is £725m — the highest it has been since 2010. Sheikh Jassim will wipe that out to save on any further fees and not take any dividend payments from the club, like the Glazers did.

An announcement of the takeover could be made as early as next month as United enter what they hope will be a successful new era. The takeover will end a tortuous process that started when the club was put up for sale last November.

It is not all good news for United, though, as midfielder Mason Mount is set to miss their game against Nottingham Forest and Arsenal due to an injury. A club statement revealed he is expected to be “out until the international break next month”