Sheikh Jassim has slipped behind Sir Jim Ratcliffe in the race to take over Manchester United, and he has been upset by the Glazer family’s methods.
Sheikh Jassim considers the Glazers to have “let him down” after failing to reach a deal on the sale of Manchester United.
That is the opinion of football and financial analyst Kieran Maguire, who discussed the situation of United’s ownership in depth on his podcast, The Price of Football. Maguire has ties to Jassim and others involved in the Saudi takeover drive.
Jassim allegedly made an offer in excess of $6 billion (£4.9 billion) for all of United’s shares. They wanted to innovate both on and off the field, and Maguire stated, “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.”
According to Maguire, the main issue was how the Glazers attempted to take advantage of Jassim’s money and status in the Middle East. He claims that United’s American owners eventually became “fed up” with those connected with the Saudi takeover bid.
“Sheikh Jassim said, ‘Well actually, I have been reasonably successful, and part of the reason I’ve been reasonably successful is that I don’t get my trousers taken down in negotiations,'” Maguire continued. I believe they are simply disappointed with the selling party’s attitude.”
“Sir Jim Ratcliffe is absolutely brilliant at turning around failing businesses,” he added, adding that “football is not like any other industry.” The consensus was that it was 25% presently, with the goal of having a controlling interest by 2026. That will be three years from now. Is this the third year of leaking roofs?