Qatari banker Sheikh Jassim bin Hamad Al Thani attempted to buy Manchester United through his Nine Two Foundation but lost out to British billionaire Sir Jim Ratcliffe. Legal letters were sent to Manchester United lawyers over alleged false statements made by Ratcliffe questioning Sheikh Jassim’s existence. Sheikh Jassim demanded corrective action to the club’s SEC filings and alleged that Ratcliffe breached a confidentiality agreement. Ratcliffe had initially sought to secure a 69 percent stake in United but settled for a 25 percent investment at a cost of around £1.3 billion.
Ratcliffe’s public statements in February about Sheikh Jassim not being seen and not meeting the Glazers were disputed by the Qatari’s legal team. They referenced meetings with the Glazers in July 2023 and recalled interactions with Joe Ravitch of Raine Group, who oversaw the sale. Ravitch described Sheikh Jassim as a “lovely guy” and a “very smart guy,” suggesting that the Qataris were genuine and made serious bids for the club. The Qataris took legal action after United’s SEC filing in January claimed that Sheikh Jassim failed to provide financing commitment letters, which they argued created a misleading impression.
Ratcliffe’s investment in Manchester United was officially announced in February, leading to Sheikh Jassim’s legal challenge against alleged defamatory statements. The Qataris contested Ratcliffe’s remarks questioning Sheikh Jassim’s existence and meetings with the Glazers, highlighting their interactions both with the club’s owners and representatives overseeing the sale. The legal dispute revolved around SEC filings and claims of breaching confidentiality agreements, underscoring the complexity of the failed takeover bid. Sheikh Jassim’s legal team demanded corrective action and sought to set the record straight on the attempts to acquire Manchester United.
The dynamics of the Manchester United takeover saga involved competing bids from Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe, leading to legal disputes over alleged false statements and breaches of confidentiality. Ratcliffe’s successful investment in the club contrasted with Sheikh Jassim’s failed bid, sparking further scrutiny of the process and the implications for the Premier League team. The involvement of high-profile figures in the football world highlighted the complexities and challenges of major ownership changes in the sport. The legal letters exchanged between the parties underscored the intensity of the negotiations and the significance of the stake in one of the world’s most famous football clubs.
Despite Sheikh Jassim’s efforts to acquire Manchester United through his foundation, he was ultimately unsuccessful in outbidding British billionaire Sir Jim Ratcliffe. Legal disputes arose from alleged false statements and breaches of confidentiality in the takeover process, reflecting the high stakes and competition in football ownership. The involvement of prominent figures like Ratcliffe and Sheikh Jassim added intrigue to the failed bid and shed light on the complexities of acquiring a major football club. The legal challenges and demands for corrective action underscored the intensity of the negotiations and the regulatory scrutiny of such transactions in the sports industry.
