The English football team, Manchester United (MANU.N), is currently in discussions about granting exclusive rights to a consortium spearheaded by Sheikh Jassim bin Hamad al-Thani of Qatar, for a potential sale exceeding $6 billion, according to those acquainted with the situation on Thursday.
The proposed deal would involve members of the Glazer family, who hold minor shares in Manchester United yet maintain control via a dual-class share arrangement, liquidating their investments, a source has revealed.
The Glazer family seems to be more inclined towards the Qatari proposition compared to a bid from British billionaire and INEOS chemicals producer founder, Jim Ratcliffe, according to sources. Ratcliffe’s proposal includes a provision for the Glazers to maintain some stake in Manchester United.
Manchester United is largely considered among the most valuable entities in the entire sporting world. If realized, a deal worth $6 billion would rank among the most substantial sports transactions ever, on par with the sale of the National Football League’s Washington Commanders earlier this year.
In response to the news, Manchester United shares surged nearly 15%, although they later receded slightly.
During the exclusivity period, Manchester United would be restricted from engaging with any other potential buyer apart from Sheikh Jassim. The duration of this exclusivity period is currently unknown. It’s important to note that the situation is dynamic and a renewed offer from Ratcliffe could potentially hinder Sheikh Jassim from acquiring exclusivity.
The sources wished to remain anonymous due to the confidential nature of these proceedings. Both Manchester United representatives and Sheikh Jassim have not immediately replied to requests for comment.
Based on Deloitte’s analysis, the club holds the rank of the fourth wealthiest football club globally.
