English football club Manchester United is negotiating granting exclusivity to the consortium led by Qatar's Sheikh Jassim bin Hamad al-Thani in the talks to sell itself for more than US$6 billion, people familiar with the matter said on Thursday (Jun 14). Members of the Glazer family, which own minority s
English football club Manchester United is negotiating granting exclusivity to the consortium led by Qatar's Sheikh Jassim bin Hamad al-Thani in the talks to sell itself for more than US$6 billion, people familiar with the matter said on Thursday .
Members of the Glazer family, which own minority stakes in Manchester United and control it thanks to a dual-class share structure, would be cashing out as part of the proposed deal, one of the sources said. The Qatari offer is currently viewed by the Glazers more favourably than a bid from British billionaire Jim Ratcliffe, founder of chemicals producer INEOS, the sources added. Ratcliffe's offer envisions that the Glazers would keep some interest in Manchester United.
Manchester United is widely seen as one of the most prized assets in all of sport. A US$6 billion deal would make the deal one of the biggest sports deals ever, following the similarly-sized sale of the National Football League's Washington Commanders earlier this year.Manchester United would not be allowed to negotiate with any bidder other than Sheikh Jassim for the exclusivity period. It could not be learned how long this period may last.
The sources requested anonymity because the matter is confidential. Representatives for Manchester United and Sheikh Jassim did not immediately respond to requests for comment.Source: Reuters
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