Sheikh Jassim remains a frontrunner to purchase Manchester United and he has submitted an increased fourth bid to buy the football club.
Jassim’s offer is believed to be in the region of around £5 billion according to reports but it remains slightly short of the Glazer family’s valuation of the club which is believed to be around £6 billion.
The Glazer family made the decision to sell Man United earlier this season in November - they have owned the club for 18 years and they first acquired it in 2005 after successful negotiations with the club’s former owners John Magnier and J.P McManus.
Jassim is one of a number of names that has been linked with Manchester United, who remain one of the most marketable football clubs on the planet. However, he is likely to face competition from UK billionaire Sir Jim Ratcliffe.
But who is Sheikh Jassim and how did the Man United bidder make his money? Here is everything you need to know.
Who is Sheikh Jassim?
Sheikh Jassim bin Hamad Al Thani is the chairman of the Qatar Islamic Bank (QIB), which is one of the biggest banks in the Middle East. Jassim is also a member of the Qatari royal family.
Jassim was born in 1982 and he is thought to be a lifelong fan of Manchester United. Jassim’s Nine Two Foundation is reportedly a reference to The Red Devil’s famous class of 92 squad which featured stars such as Gary Neville, David Beckham and Paul Scholes.
He is the son of Hamad bin Jassim bin Jaber Al Thani who was the Qatari prime minister between 2007 and 2013. Over the last decade he has been heavily involved in the running of PSG in Ligue 1.
Jassim graduated as an officer cadet at the Royal Military Academy in Sandhurst before eventually becoming a banker.
What is Sheikh Jassim’s net worth?
The exact net worth of Sheikh Jassim is unclear but his family are estimated to have a combined net worth of around £275 billion according to reports from Manchester Evening News. The QIB is ranked in Forbes Middle East’s top 30 most valuable companies in Qatar.
What has Sheikh Jassim said about buying Manchester United?
Sheikh Jassim confirmed his interest in purchasing Manchester United on Saturday 18 February. He announced the news through a statement which read: “Sheikh Jassim bin Hama Al Thani today confirmed his submission of a bid for 100% of Manchester United.
“The big plans to return the club to its former glories both on and off the pitch, and - above all - will seek to place the fans at the heart of Manchester United once more.”
Jassim also confirmed that the bid would be debt free and he announced plans to upgrade the club’s training centre, stadium and wider infrastructure, whilst also improving the fan experience.
He added: “The vision of the bid is for Manchester United to be renowned for footballing excellence and regarded as the greatest football club in the world.”
Manchester United are currently the most successful team in Premier League history and they have won the title 13 times since 1992. However, it is now a decade since the club last lifted a league title following the departure of their long term manager Alex Ferguson.
Who else is in the running to takeover at Man United?
Sheikh Jassim’s biggest takeover rival is UK billionaire Sir Jim Ratcliffe. He reportedly wants to buy just over 50 percent of the club to take the majority stake, therefore allowing brother Joel and Avram Glazer to retain a 20 percent share.
Ratcliffe is the owner, chairperson and CEO of Ineos which is a global chemicals manufacturer that produces everything from packaging to smartphones casing and paint.
Ratcliffe is a boyhood fan of Man United who remains an avid supporter of the club. He owns French Ligue 1 side Nice and Swiss Super League outfit FC Lausanne-Sport. Ratcliffe was also involved in a bid to buy Chelsea last summer but he lost out to American Todd Boehly.
Elliott Management is a US-based hedge fund which has also submitted a bid for a minor stake in Manchester United.
The firm previously owned Italian giants AC Milan - they took control of the club in 2018 but later sold it to Red Bird Capital for a figure of £1 billion in 2022.