One of the bidders looking to take over at Manchester United has previously been involved with takeover talks at the club, according to reports.
Sheikh Jassim Bin Hamad Al-Thani is behind the Qatar bid thought to be leading the list of potential bidders to buy the club from the Glazer family – and it has now emerged that he was involved in similar talks over 10 years ago.
According to The Athletic, Al Thani was among the Qatari officials who attended a meeting with a group of wealthy fans called the Red Knights back in 2010, when they were trying to fund a possible takeover from the Glazers.
At the time the Glazers were subjected to protests and chants from United fans, who formed a green and gold movement to vent their anger – despite the success of Sir Alex Ferguson’s side in the years following the controversial 2005 takeover.
Al-Thani was among those present for talks with the Red Knights and members of the Qatari royal family, which took place several years into his current position as chairman of the Qatar Islamic Bank.
Sheikh Jassim Bin Hamad Al-Thani was involved in talks to buy Manchester United in 2010
Al-Thani is among the favourites to potentially take over at Old Trafford from the Glazer family
But he was previously involved with a bid to buy United in 2010. Pictured above Wayne Rooney celebrates a goal during the 2010 League Cup final
The Athletic reports that Sheikh Jassim was only on the fringes of the talks in relation to his support for United but seemed ‘very interested in the idea’.
The Red Knights were led by another United supporter, Lord Jim O’Neill, who had hoped to get investment of no more than £20m off 50 people to help buy out the Glazers.
In addition the group needed more investment to take the bid to levels that might tempt the Glazers into a sell and targeted between £500m and £750m from Qatar.
Alternative proposals included the Qataris buying the club but enabling fans to purchase a 25 per cent stake to ensure representation.
Al-Thani’s current bid is for full control and he is among the early favourites to complete a takeover at Old Trafford.
His support for United is thought to extend beyond a casual interest with friends saying he wears the club’s shirt at weekly five-a-side matches.
Al-Thani’s main rival is thought to come from another United fan in Sir Jim Ratcliffe, with Britain’s richest man rivalling bids that were lodged at a maximum of £4.5bn.
It was initially expected that a deal could be finalised by the end of the month but any successful takeover is now expected to be delayed until May, with the Glazers holding out for £6bn.
Fans protest in 2010 having been unhappy with the debt placed on the club by the Glazers
A report claimed the Glazers feel that for a deal to be agreed by the end of March is unlikely
There is reported division within the Glazer family with every member having their own intentions around the sale, according to the Guardian.
It comes after Sportsmail reported on Monday that those who entered bids for the Old Trafford club are expecting to hear back from those running the process this week.
Sportsmail understands that US merchant bankers Raine Group are set to reach out to those who sent in offers to either buy or make an investment in the Premier League giants over the coming days, according to those with knowledge of the situation.
The development comes following another rough few days for the club’s share price. The figure rocketed when this newspaper revealed that a bid from Qatar would be forthcoming earlier this month.
However, following reports that the Glazers are considering remaining in control of United, at one stage on Sunday the price had dropped by around 13 per cent.
A ‘soft deadline’ for offers fell on February 17. Raine have been sifting through the bids ahead of the next process. Those in the running are expected to be given access to United’s full financials, after being given a glimpse following their initial expressions of interest.
Manchester United have remained stable on the pitch after winning the 2020 Carabao Cup
Fellow United supporter Sir Jim Ratcliffe is looking to rival Al-Thani’s bid to buy out the Glazers
As United closed in on their first trophy in five seasons during Sunday’s League Cup final win over Newcastle, loud chants of ‘We want Glazers out’ could be heard from the United section, while some carried anti-Glazer banners.
Aside from offers to takeover the club, there are offers of investment which Avram and brother Joel could, in theory, use to pay off the other four members of the family and redevelop Old Trafford and the club’s training ground.
Meanwhile, Sportsmail understands that there is some consternation among a number of the bidders that they are still to hear back following the deadline.
That feeling was exacerbated by reports over the weekend that bids for the club were under the Glazers’ valuation – which came after those in the process were told by Raine to keep quiet.
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