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LONDON, ENGLAND – JUNE 03: A Manchester United flag is waved from the stands during the Emirates FA Cup Final between Manchester City and Manchester United at Wembley Stadium on June 03, 2023 in London, England. (Photo by Michael Regan – The FA/The FA via Getty Images)
Michael Regan – The Fa | The Fa Collection | Getty Images
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 $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 favorably 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 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 cautioned that the situation remained fluid and a new bid from Ratcliffe could prevent Sheikh Jassim from securing exclusivity.
The sources requested anonymity because the matter is confidential.
Representatives for Manchester United and Sheikh Jassim did not immediately respond to requests for comment.
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