Sheikh Jassim bin Hamad Al Thani has promised to boost Manchester United ’s summer transfer budget by £50m should he complete a takeover of the club.
The Qatari billionaire has been in the race to become the club’s new owners since the Glazer family announced their intentions to sell in November last year. He faces competition from INEOS owner and the UK’s richest man Sir Jim Ratcliffe.
Both parties have lodged multiple bids for United but at this stage neither have been named as the Raine Group’s preferred bidders. Sheikh Jassim made one final play for the club last week as he lodged a fifth and final offer, and threatened to stop engaging with the process should it not be accepted.
There were reports earlier this week that he had been successful. Qatari businessman, Zaidm Al-Hamdan even congratulated his countryman on his takeover.
Chairman of the Armasite Group, he wrote on Twitter : "Congratulations to Shaikh Jassim Bin Hamad Bin Jassim on his acquisition of @manutd." The tweet garnered 25,000 likes within 12 hours of posting.
However, it appears that those reports are slightly premature. That has not stopped Sheikh Jassim from making a number of promises should he become the club’s new owner.
Do you think a takeover will be complete before next season? Share your thoughts in the comments below
According to Metro, he has promised to wipe the club’s current debt in one fell swoop. At the moment, United are paying debt interest payments of around £50m-per-year.
With the debt being paid off, that would mean an additional £50m being put into the club’s coffers per year. The same could not quite be said should Ratcliffe be successful in his attempts to buy United.
It is suggested that due to the 70-year-old only aiming to purchase 60% of the club, their debts would remain. An additional £50m would certainly go a long way in helping Erik ten Hag add to his squad this summer.
The Dutchman reportedly has a seven-man shortlist of players he wants to sign including a big-name forward, a central midfielder and a new goalkeeper. An initial budget of £120m will be added to with sales at Old Trafford throughout the window.
The likes of Harry Maguire, Anthony Martial, Dean Henderson and Scott McTominay are thought to be among those that could leave the club over the coming months. Meanwhile, it is suggested that the Red Devils are closing in on their first arrival of the window.
Napoli star Kim Min-Jae has long been linked with a move to Old Trafford following a stellar season in Italy. United are set to activate the €50million (£42.7m) release clause written into his contract. The Napoli hierarchy are already resigned to losing the South Korean and have a deal in place to sign Atalanta’s Giorgio Scalvini as a replacement.
