In bidding for Manchester United, Sheikh Jassim bin Hamad al-Thani failed to deliver proof of funds despite numerous requests to do so, new documents have revealed
(Image credit: Getty Images)
Sheikh Jassim bin Hamad al-Thani dropped out of the race to buy Manchester United after failing to prove he had sufficient finances for the deal, according to latest reports.
The Guardian reports that the Qatari banker did not disclose any proof of funds during the process last year. Filings made to the US Securities and Exchange Commission confirmed Sir Jim Ratcliffe’s acquisition of 27.69% of the club, but Jassim did not respond to requests to show where his money was coming from, the details found.
It’s believed that Jassim - known as Bidder A - repeatedly submitted the ‘customary financing commitment letters’ despite numerous asks to provide proof of funds.
Sheikh Jassim bin Hamad al-Thani has been linked with other Premier League clubs, too (Image credit: Sheikh Jassim)
Even after a series of revised and improved bids from Jassim, the Manchester United board of directors eventually told him that they would “require sufficient evidence of the financing and customary financing commitment papers” in order to continue. But those never arrived, before he opted out of the process.
At the time, questions were asked as to whether the banker had sufficient money - or whether he was the frontman for a bid funded by the Qatari state. The document also shows how Ratcliffe slowly increased his offer before taking a minority stake over the summer.
Sir Jim Ratcliffe ended up investing in United (Image credit: Getty Images)
The documents state: “Offeror was not prepared to accept any other changes proposed by the non-affiliated directors, and gave Manchester United a deadline of December 25, 2023 to accept its best and final proposal.”
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The Premier League giants officially announced the sale of a minority stake to Ratcliffe on December 24. The deal saw Ratcliffe acquire a 25% stake in the club for approximately £1.3 billion, as well as taking over responsibility for football operations.
The announcement came over a year after the Glazers declared their intention to explore strategic options for the club, which was thought to include a complete sale of the club.
Jacque Talbot is a freelance football journalist who predominantly specialises in transfer stories and exclusives. He began his career in 2016 covering the world-renowned Sandbach United, of North West Counties fame, before earning a spot on the sports desks of national papers, where he bounced between several outlets such as Sportbible, the Express, Mirror, and Daily Star. An NCTJ graduate of the News Associates who swapped investigative journalism in the Costa del Sol for football reporting in Northern England, he first wrote for FourFourTwo in December 2023.
