Manchester United

Sheikh Jassim 'seeking legal advice over Manchester United lack of funds claim'

By Matt Law, Football Editor | 20 January 2024

Sheikh Jassim 'seeking legal advice over Man United lack of funds claim'

Sheikh Jassim bin Hamad Al Thani allegedly takes legal advice following claims from Manchester United that he did not provide proof of funding in his attempts to buy the club.

Sheikh Jassim bin Hamad Al Thani is reportedly taking legal advice following claims from Manchester United that he did not provide proof of funding during his attempts to purchase the club.

The Qatari banker was in discussions over a purchase of the Red Devils between February 2023 and October 2023, with the Glazer family signalling in November 2022 that they were prepared to sell.

However, according to documents that were submitted by Man United to the United States Securities and Exchange Commission (SEC), Sheikh Jassim was unable to provide proof of funding.

The team behind Qatar's offer to purchase the Red Devils are said to have strongly refuted the claims, insisting that they met the asking price and were also able to provide proof of funds.

According to Sky Sports News, Sheikh Jassim and his representatives are now taking legal advice in the USA following the claims from the 20-time English champions.

General view inside Old Trafford before the match on January 10, 2022 © Reuters

The Qataris allegedly believe that a deal broke down as they were ultimately not prepared to meet the substantial asking price which had been set by the Glazers during the talks.

Sheikh Jassim's largest debt-free offer for the club, which was in the region of £4.5bn, included a bank guarantee signed by the chief executive of Qatar National Bank.

The Qatari banker could allegedly now ask for a fresh statement from the SEC, but Man United are said to remain confident that the information they provided in the document was correct.

Sheikh Jassim is said to believe that discussions with the Glazers would not have taken place for such a long period of time unless they were unable to provide proof of funds.

Manchester United co owner Jim Ratcliffe is seen in the stands before the match on January 14, 2024 © Reuters

Qatar's offer was for 100% of the club, with Sheikh Jassim not believed to be willing to discuss becoming a minority shareholder of the Red Devils.

Sir Jim Ratcliffe ultimately agreed to those terms, though, with an announcement on Christmas Eve confirming that he had purchased 25% of the club, subject to approval from the Premier League.

However, it has been revealed that Ratcliffe would be forced to sell his Man United shares in 18 months if the Glazers decide to sell the club to another party.

The Glazer family cannot encourage new offers for the first year without written consent of Ratcliffe's Trawler Ltd company, but after 18 months, the Americans can sell to another party if they wish.

Ratcliffe said last weekend that his arrival of Man United as a minority shareholder would be ratified by the Premier League in "early to mid-February".