Qatar, with Sheikh Jassim bin Hamad Al Thani at the helm, never demonstrated that he had sufficient funds to buy Manchester United, according to documents made public in the United States, where the club is listed on the stock market.
The Glazerthe family that has owned Manchester United since 2005, put the club up for sale at the end of 2022, with Taste and INEOS as main stakeholders in the operation.
However, despite the fact that the Qataris supposedly offered 5 billion pounds to buy the club, they never demonstrated that they had sufficient funds to be able to undertake said transaction.
The documents that came to light this Thursday, which explain the operation behind the sale of 25% of the club to INEOS, revealed that United pressured several times Taste to justify the funds they put on the table to buy the Manchester team, but they never responded.
However, in October 2023, Qatar distanced itself from the sale, claiming that they were tired of the lengthening of the process. The Qataris were only interested in taking over all of United, not just a percentage of the shares.
After the withdrawal of TasteJim Ratcliffe, British billionaire and fan of United since he was a child, and his chemical company INEOS They ended up taking 25% of the club in exchange for 1.3 billion pounds (1.5 billion euros). This operation will be ratified by the Premier League next month and it is expected that Ratcliffe and his company will take over the sporting management of United.
The documents have also shown that the Glazer can force Ratcliffe to sell his shares in the club within 18 months if a new buyer appears.
Source: Gestion
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