Sheikh Jassim bin Hamad was at one stage considered the frontrunner in the Manchester United takeover race but recent reports may well end his chances of any future Premier League investment, including in Tottenham Hotspur.
The Qatari banker had been linked with a potential stake purchase in Spurs after axing his £5bn full buy-out proposal for United in October. There had been pushback from human rights campaigners regarding Sheikh Jassim’’s involvement in the United takeover process amid concerns about where his funds were coming from.
Sheikh Jassim is the son of former Qatar prime minister Hamad bin Jassim bin Jaber Al Thani, known commonly as ‘HBJ’. Concerns have historically been raised about the upholding of human rights in the country under the ruling powers.
Sheikh Jassim said his bid was entirely self-funded through his NineTwo Foundation, which was first listed as a company in Britain as ‘NineTwo UK Holdings Limited’ back in June. The United takeover process was overseen by the Raine Group, which also presided over Todd Boehly’s consortium acquisition of Chelsea in 2022.
It is thought most of the process was conducted in America, the homeland of the Glazers. Fresh filings from the US Securities and Exchange Commission have confirmed Sir Jim Ratcliffe as the new 25% stake minority share investor in United but also make reference to ‘Bidder A’, namely Sheikh Jassim.
The documents state that the bidder “did not provide customary financing commitment letters” on multiple occasions. This meant the Glazers did not want to proceed with the proposal given it was unclear where Sheikh Jassim’s funds were coming from and whether his potential buy-out could be sustained.
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The failure to provide basic documents needed for a takeover will raise eyebrows, especially given the owners’ and directors’ tests employed by the Premier League.
In October, The Mirror said Sheikh Jassim may have it within his scope to approach Tottenham for a partial buy-out. A receptive ear from Daniel Levy seems less likely in light of Sheikh Jassim's failings in the United takeover saga.
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