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Revealed: '£5bn' Man United takeover update as new Sheikh Jassim details emerge
Sheikh Jassim’s Man United takeover plan bares many similarities to Roma’s takeover in 2020, Football Insider has been told.
The Glazer family are yet to decide on a preferred bidder for the United takeover, with Jassim and Sir Jim Ratcliffe going head-to-head for the Manchester club.
Following reports that Qatar were close to completing a takeover earlier this month, United’s share price value soared over 20 per cent in 48 hours.
Football Insider revealed on June 14 that United’s market value rose by £270million as a result of their stock market fluctuation.
Should the Qatar bid be successful in acquiring 100 per cent of the club, it is understood that they will be delisted from the stock exchange and taken private.
United first floated on the New York Stock Exchange in 2012 and have remained on the market during the Glazers’ ownership.
Viva Mukherjee, a chartered accountant and football finance analyst, told Football Insider that Qatar will likely take United private, comparing their takeover plans to that of Roma.
“I think the investment plan of Sheikh Jassim is very similar to that of the Friedkin Group at Roma but on a larger scale,” he said.
“The group bought a 86.6 per cent majority equity of AS Roma for £510million in 2020, of which £331million of that was debt amassed by the former owner.
“In a similar sense, the Qatar bid includes paying off the gross debt of £725million at Old Trafford.
“The Friedkin Group needed 95 per cent equity to delist the Italian club from the stock exchange – a stake that Jassim would own at Old Trafford if he successfully won the takeover.
“I believe Jassim will want to do similar and delist United from the stock exchange should he become the new owner.
“His bid for the club is around $6.3billion (£4.95billion), with a large majority of that fee set to be paid to the Glazers and the club’s shareholders.”
“It is the opposite to the Ratcliffe bid, where the debt of the club will likely remain and the club could continue to be traded on the stock exchange.”
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