Manchester United's takeover saga continues to be shrouded in confusion following claims Sheikh Jassim bin Hamad al-Thani has been granted exclusivity in the negotiations to take over.
Current owners the Glazers announced their decision to "explore strategic alternatives for the club" back in November, with a seven-month wait following that initial statement. Five rounds of bidding have taken place with several US banking firms, Shiekh Jassim and British billionaire Sir Jim Ratcliffe entering the race to become the next owners of the Old Trafford outfit.
The Qatari banker set a deadline for Friday June 8, after which his Nine Two Foundation said they would no longer actively participate in discussions as they feel the Glazers and Raine Group, which is handling the sale, had had ample time to seek clarifications and revisions to his offer.
Now, the Reuters news agency has claimed that Sheikh Jassim has been granted exclusivity and could be set to take the helm at United. But those reports have also been widely dismissed by other outlets.
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Reuters reports being told by people familiar with the matter that the Glazers are set to cash out and sell 100 per cent of the club to Sheikh Jassim in a deal claimed to be worth £4.7bn ($6bn). It adds United would not be allowed to negotiate with any other bidder during the exclusivity period, although it is not clear how long this might last.
The report states: "The sources cautioned that the situation remained fluid and a new bid from Ratcliffe could prevent Sheikh Jassim from securing exclusivity."
But the BBC's football reporter Simon Stone, along with several other Manchester United correspondents, moved to quash the report. Stone tweeted: "Re Man United ownership. No exclusivity granted. Told talks continue with multiple parties."
The Press Association (PA) reports that the Sheikh’s team have indicated nothing has changed from earlier in the week.
Trading in Manchester United shares on the New York Stock Exchange was temporarily paused following the Reuters report due to "volatility", though shares resumed trading shortly afterwards, and were up 12 per cent on the day.
It comes a matter of hours after Sheikh Jassim's Nine Two Holdings Limited was officially listed as a company in the UK. British billionaire Sir Jim Ratcliffe, who also owns French Ligue 1 outfit OGC Nice, had been considered the other frontrunner although his offer is to take a controlling interest that would allow Joel and Avram Glazer to temporarily retain a 20 per cent stake in United.
However, Ratcliffe’s offer includes a clause to see the family leave the club entirely on a phased basis.
This is a breaking news story and is being updated...
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