“Zero chance”: Sources rule out a return by Sheikh Jassim – Man United News And Transfer News

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There is “zero chance” Sheikh Jassim Bin Hamad Al Thani will make a return for Manchester United, according to a source close to the process.

Mike Keegan (The Daily Mail) revealed a figure close to the negotiations refuted the idea the Qatari banker would re-enter the race to buy the Premier League, after noises had indicated as such.

Rumours suggesting Sheikh Jassim may step back into the fold, should Sir Jim Ratcliffe’s bid fall through, circulated in the last few days, but Keegan was quick to pour cold water on them.

The head of the Nine Two Foundation, the rival bidders to INEOS, is reported to have grown frustrated with the Glazer family during the protracted takeover saga.

A “fanciful and outlandish” valuation of United by its American owners was at the heart of Sheikh Jassim’s frustration, with sources in the Qatari camp suggesting the banker had made an offer worth in excess of double the club’s current market valuation.

Fabrizio Romano even revealed Sheikh Jassim believed the Glazers never actually intended of relinquishing full control of United.

The Nine Two Foundation takeover bid was always for 100% ownership of the club, with the promise of further investment in infrastructure and for the community surrounding the club.

This puts it in contrast to the initial proposals by INEOS, who were seeking to acquire the 69% Glazer controlled shareholding, while leaving the remaining shares on the New York Stock Exchange.

Ratcliffe was able to negotiate a breakthrough in a process which had appeared to come to a complete standstill, through the offer of a minority stake co-ownership proposal.

By acquiring an initial 25% – for a fee worth in the region of £1.3 billion – the INEOS owner was able to outmaneuver his less flexible takeover rival.

Financial experts describe the price agreed between Ratcliffe and the Glazers to be a “premium” given United’s current market value, though it is thought to reflect a number of favourable clauses the INEOS owner will have demanded as part of the deal.

Keegan reports Sheikh Jassim had held further discussions and negotiations in the last few days of his active interest. But after his final bid was rejected, the banker decided to “pull the plug” and withdrew completely from the process.

It appears this decision to end negotiations with the Glazers for ownership of United will be a permanent one, regardless of any further developments.