Man Utd documents show how close Sheikh Jassim takeover was to completion

Sheikh Jassim bin Hamad Al Thani was one of eight parties to reach the second round of the Manchester United takeover process, but his bid was never close to being accepted

Secret Manchester United documents have revealed how close Sheikh Jassim came to buying the club from the Glazers.

Despite a strong PR campaign and fan support, his bid fell short in key areas. The Qatari banker was one of 170 interested parties, with only eight making it to the second round of the process.

The document reveals that Sheikh Jassim's offer didn't quite meet the Glazers' expectations. The Qatari group, referred to as "Bidder A", offered $30.01 per ordinary share in May 2023, but Raine wanted $35.25.

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Sheikh Jassim also proposed different prices for A and B shares, which could have led to legal trouble for United. The proposal lacked "did not provide customary financing commitment letters", suggesting the Qatari group couldn't prove they had the funds.

Despite meetings between Raine, lawyers and Sheikh Jassim's representatives throughout summer 2023, no agreement was reached. And this latest information suggests the two parties were quite far apart.

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Sheikh Jassim officially pulled out of the process on October 15, as reported by Mirror Football. This left the way open for Ratcliffe and his INEOS group, who announced on Christmas Eve that they had agreed to buy a quarter of the club for a whopping £1.3billion.

The deal is still pending official approval, but Ratcliffe and INEOS sports director Sir Dave Brailsford are already settling in at United. The British tycoon was recently spotted at Old Trafford publicly for the first time since his investment was confirmed, watching Erik ten Hag's men twice blow leads to draw 2-2 against Tottenham from the stands alongside Sir Alex Ferguson.

But while Ratcliffe may have won the race for a spot among United's decision-makers for the time being, documents have also shown his time at the club could be cut short. That's because the Glazers can mandate he sell all his shares after 18 months if they decide to sell the struggling Premier League outfit in its entirety.

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