Sheikh-ing Up the Stakes

Sheikh-ing Up the Stakes

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  • Reports have surfaced that Manchester United has received an additional bid from Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber AI Thani, Chairman of Qatar Islamic Bank, to acquire the storied English football club. While billionaire Jim Ratcliffe and Finnish entrepreneur Thomas Zilliacus have also thrown their hat in the ring, bidders have been given extra time to make a play for Old Trafford. It looks like the race to own Manchester United is heating up. 
  • No figures have been made public, but reports indicate that bids for Manchester United have reached £4.5 billion ($5.5 billion). That sum could make the club, the most expensive sports team in history – though it would still fall short of the team's estimated £6 billion value as set by their current owners, the Glazer family. Sheikh Jassim and Ratcliffe, remain the top contenders to purchase United if the Glazers decide to relinquish control.

Why it matters

Since the Glazers took over Manchester United in 2005, they've accumulated debt that has upset many fans. They recently invited investors to buy a controlling stake but might not sell it all, as other parties are interested in a partial stake. Sheikh Jassim wants complete control to revive the club's former success.


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