Manchester United (Man Utd), the English football club has been purchased by Qatari Royal, Sheikh Jassim in a multi-billion dollar bid. The exact valuation details have not yet been disclosed but the club was initially valued by the Glazer family at £6 billion.
Offers were presented by frontrunners Sheikh Jassim and Sir Jum Ratcliffe the billionaire CEO of petrochem company INEOS with the Qarati royal family member taking the winning bid.
Who is Sheikh Jassim?
Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al-Thani is a member of the Qatari family and a prominent figure in the banking industry. He is currently the chairman of the sheikhdom’s biggest financial institution – Qatar Islamic Bank.
The Sheikh was born in the same year as the founding of the bank in 1982, it has since become the fourth largest Islamic bank in the world.
He is also the son of Qatar’s former Prime Minister, Hamad Bin Jassim Bin Jaber Al Thani.
According to reports, Sheikh Jassim has been a lifelong supporter of the club. Al Thani studied in the United Kingdom at the Royal Military Academy, graduating as an officer cadet.
The royal family member has been at the helm of eight different businesses and is also on the board of seven other companies. He has been a prominent investor in London for many years.
Sheikh Jassim made the bid through his foundation – Nine Two, which was named in tribute to Manchester United’s Class of 1992 players. The Class of ’92 (David Beckham, Nicky Butt, Gary Neville and Paul Scholes) earned that collective name by winning the FA Youth Cup for Manchester United in May of that year.
At the time of his submitted bid, a statement was released, “Sheikh Jassim bin Hamad al-Thani today confirmed his submission of a bid for 100 percent of Manchester United. 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 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 center, the stadium and wider infrastructure, the fan experience and the communities the Club supports. The vision of the bid is for Manchester United to be renowned for footballing excellence, and regarded as the greatest football club in the world,” the statement read.
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