English football team In its negotiations to sell itself for more than $6 billion, Manchester United is seeking to grant exclusivity to the group led by Qatar's Sheikh Jassim bin Hamad al-Thani, according to persons with knowledge of the situation on June 15.
One of the sources added that as part of the proposed transaction, members of the Glazer family, who own minority stakes in Manchester United and control it as a result of a dual-class share structure, would receive cash payouts.
The sources claimed that the Glazers presently see the Qatari offer more favourably than a bid from British billionaire Jim Ratcliffe, the creator of chemicals manufacturer INEOS. The Ratcliffe bid assumes the Glazers will continue to be somewhat interested in Manchester United.
One of the most valued possessions in all of sports is unquestionably Manchester United. Following the sale of the Washington Commanders of the National Football League for a comparable sum earlier this year, a $6 billion deal would make it one of the largest sports acquisitions in history.
Following the news, Manchester United's stock rose by about 15% before reversing some of its gains.
For the duration of the exclusivity period, Manchester United would not be permitted to talk with any other bidder save Sheikh Jassim. How long this phase might last was unknown. The sources warned that the situation was still shaky and that Sheikh Jassim might not be able to secure exclusivity if Ratcliffe made a new offer.
The sources asked to remain anonymous because the information is private. Requests for comment from Sheikh Jassim and Manchester United representatives were not immediately fulfilled.
According to a Deloitte report, the club is the fourth-richest football club in the world.
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