Sheikh Jassim’s Manchester United takeover announcement and completion dates revealed

The full takeover of Manchester United by Qatari businessman Sheikh Jassim is reportedly set to be completed in the next two months.

Manchester United have been up for bids since November 2022, when the Glazer family said they were looking for alternative investment for the club, either as a whole or a partial takeover.

This led to multiple bids for the club being tabled by various hedge funds, with majority ownership bids coming from British billionaire Sir Jim Ratcliffe and Qatari Sheikh Jassim.

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The two parties tabled a total of nine separate bids across a seven-month period, with the Sheikh’s fifth bid said to be the final and most significant offer, set at just over £5 billion.

And now, according to Neil Custis of The Sun, Jassim will be the sole controller of 100% of the club, having beaten Sir Ratcliffe in the sale process – his lawyers are said to be completing their due diligence on the club.

It is further claimed that an announcement on the winning bid could come as early as next month, with the full process set to be completed by mid-October.

It is claimed that Sheikh Jassim will wipe the club’s current gross debt of £725m in order to save on any further fees and that he will not take any dividend payments as the Glazers did.

There are also said to be plans that involve upgrading both Old Trafford and Carrington training ground while continuing to invest in Erik ten Hag’s team.