English football club Manchester United MANU.N is negotiating granting exclusivity to the consortium led by Qatar's Sheikh Jassim bin Hamad al-Thani in talks to sell itself for more than $6 billion, people familiar with the matter said on Thursday.
While a deal remains uncertain, the development represents a major milestone in the efforts of Sheikh Jassim - the son of Qatar's former prime minister who is one of the richest men in the Gulf state - to take over the iconic sports brand.
Members of the Glazer family, who own minority stakes in Manchester United and control it thanks to a dual-class share structure, would be cashing out as part of the proposed deal, one of the sources said.
The Qatari offer is currently viewed by the Glazers more favorably than a bid from British billionaire Jim Ratcliffe, founder of chemicals producer INEOS, the sources added. Ratcliffe's offer envisions that the Glazers would keep some interest in Manchester United.
Manchester United would not be allowed to negotiate with any bidder other than Sheikh Jassim for the exclusivity period. It could not be learned how long this period may last. The sources cautioned that the situation remained fluid and a new bid from Ratcliffe could prevent Sheikh Jassim from securing exclusivity.
The sources requested anonymity because the matter is confidential. Representatives for Manchester United and Sheikh Jassim did not immediately respond to requests for comment.
Shares of Manchester United jumped as much as 15% on the news and ended trading in New York on Thursday up 6.8% at $24.81.
A $6 billion-plus deal for Manchester United would be one of the biggest ever in the sports world, following a similarly sized sale of the National Football League's Washington Commanders earlier this year.
It would also represent a significant premium to other soccer deals. Last year, the $3.1 billion acquisition of Chelsea Football Club by an investment group led by Todd Boehly and Clearlake Capital valued it at 5.7 times revenue for its last financial year.
A sale for more than $6 billion would value Manchester United at more than 10 times last year's annual revenue, according to Refinitiv data.
The Glazer family, which made its fortune in real estate, retail and healthcare and also owns the NFL's Tampa Bay Buccaneers, bought the team for 790 million pounds ($1 billion) in 2005.
Record 20-time English champions, Manchester United has over 650 million fans worldwide, according to market research firm Kantar. A large number of them have been clamoring for a change of ownership.
That is because the Glazers have overseen a significant downturn in the club's fortunes, with the club winning just the last of their 20 top-flight titles in former manager Alex Ferguson's final season in charge in 2012-13.
Manchester United won the League Cup under Erik ten Hag this season, but their third-place finish in the league, 14 points behind local rivals and treble winners Manchester City, underscores the scale of the turnaround required.
While a section of supporters may view the deep pockets of a new Qatari owner as the quickest way to shrink the gap between United and Abu Dhabi-backed Manchester City, others have expressed "deep concern" at Qatar's human rights record.
Several Middle Eastern nations have made huge investments in sport in recent years, leading to criticism that they are trying to "sportswash" their images.
Qatar hosted football's showpiece event, the World Cup, in 2022, while state-run Qatar Sport Investments (QSI) owns Ligue 1 club Paris St Germain.
Saudi Arabia's Public Investment Fund (PIF) bankrolls the breakaway LIV Golf Series, which recently agreed to merge with the PGA Tour, as well as Premier League team Newcastle United.
Reuters
Fri Jun 16 2023
![Exclusive: Manchester United discusses granting exclusivity to Qatari Sheikh in $6 billion-plus sale - Sources Exclusive: Manchester United discusses granting exclusivity to Qatari Sheikh in $6 billion-plus sale - Sources](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2023-06/51686864173_SheikhJasimManUtd.jpg)
While a deal remains uncertain, the development represents a major milestone in the efforts of Sheikh Jassim - the son of Qatar's former prime minister who is one of the richest men in the Gulf state - to take over the iconic sports brand.- File Pic
![Hari Kebangsaan: Tidak berkira hias rumah, kereta sejak 24 tahun lepas Hari Kebangsaan: Tidak berkira hias rumah, kereta sejak 24 tahun lepas](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/81723628328_TBKandapan.jpg)
Hari Kebangsaan: Tidak berkira hias rumah, kereta sejak 24 tahun lepas
Kandapan juga cukup terkenal dengan keretanya yang turut dihiasi Jalur Gemilang, bendera Johor dan semua negeri serta pelbagai pelekat imej bertemakan kemerdekaan termasuk wajah pemimpin negara.
![Malaysia kekal destinasi utama bagi pelaburan PTTEP - BMI Malaysia kekal destinasi utama bagi pelaburan PTTEP - BMI](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2021-02/81613025046_TBPelantarMinyak.jpg)
Malaysia kekal destinasi utama bagi pelaburan PTTEP - BMI
Malaysia akan kekal sebagai destinasi utama bagi pelaburan syarikat minyak nasional Thailand, PTT Exploration and Production (PTTEP), dalam jangka masa pendek dan panjang.
Jualan penyaman udara naik mendadak di negara Balkan
Menetap di negara sejuk, mereka tidak pernah terfikir memasang penyaman udara di dalam rumah memandangkan musim panas bukanlah setiap hari. Namun, cuaca panas melampau membuatkan mereka bertukar fikiran.
![Malaysia kecam sekeras-kerasnya pencerobohan ekstremis Zionis Israel ke atas Masjid Al-Aqsa Malaysia kecam sekeras-kerasnya pencerobohan ekstremis Zionis Israel ke atas Masjid Al-Aqsa](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-01/61706688348_wismaputra.jpg)
Malaysia kecam sekeras-kerasnya pencerobohan ekstremis Zionis Israel ke atas Masjid Al-Aqsa
Kerajaan Malaysia mengecam sekeras-kerasnya pencerobohan Masjid Al-Aqsa oleh ekstremis Zionis Israel pada 13 Ogos.
![Reda dengan pemergian anak walaupun bukan pengakhiran diharapkan - Ayah Nidza Afham Reda dengan pemergian anak walaupun bukan pengakhiran diharapkan - Ayah Nidza Afham](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/61723653359_TBMOKHTAR.jpg)
Reda dengan pemergian anak walaupun bukan pengakhiran diharapkan - Ayah Nidza Afham
Ayah kepada penyanyi dan Youtubers Muhammad Nidza Afham Mokhtar reda dengan pemergian anak lelakinya walaupun itu bukan pengakhiran yang beliau harapkan.
Ahli perniagaan diberkas, terlibat dalam aktiviti kumpulan mafia
Seorang ahli perniagaan Itali ditangkap di bandar Natal, Brazil pada selasa.
Giuseppe Bruno kini menghadapi tuduhan termasuk melakukan pemerasan dan pengubahan wang haram dan juga penglibatan bersama kumpulan mafia.
Giuseppe Bruno kini menghadapi tuduhan termasuk melakukan pemerasan dan pengubahan wang haram dan juga penglibatan bersama kumpulan mafia.
Srettha hormati keputusan mahkamah
Srettha Thavisin menghormati keputusan Mahkamah Perlembagaan Thailand yang memecatnya daripada jawatan Perdana Menteri.
Lahir empat hari lepas, bayi kembar maut angkara serangan rejim Zionis
Kembar lelaki diberikan nama Asser manakala Ayssel pula nama diberi buat kembar perempuan, kedua-duanya lahir pada 10 Ogos lepas.
Lelaki tikam ibu saudara direman tujuh hari
Seorang lelaki yang disyaki menikam ibu saudaranya di kepala dengan gunting, semalam direman selama tujuh hari hingga 21 Ogos ini.
PN senarai pendek tiga calon, akan diumum selepas PRK Nenggiri
Perikatan Nasional telah menyenarai pendek tiga calon untuk bertanding pada Pilihan Raya Kecil (PRK) Dewan Undangan Negeri (DUN) Mahkota yang dijadualkan berlangsung pada 28 September depan.
![EPL: Ia perasaan yang hebat untuk jadi pemain Manchester United - Mazraoui EPL: Ia perasaan yang hebat untuk jadi pemain Manchester United - Mazraoui](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/51723601839_NoussairMazraoui.jpg)
EPL: Ia perasaan yang hebat untuk jadi pemain Manchester United - Mazraoui
"Saya tidak sabar untuk ke Old Trafford dengan memakai seragam merah."
![EPL: Manchester United umum ketibaan Matthijs de Ligt, Noussair Mazraoui dari Bayern Munich EPL: Manchester United umum ketibaan Matthijs de Ligt, Noussair Mazraoui dari Bayern Munich](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-08/81723596228_MatthijsdeLigtNo.jpg)
EPL: Manchester United umum ketibaan Matthijs de Ligt, Noussair Mazraoui dari Bayern Munich
Matthijs de Ligt dan Noussair Mazraoui menyertai Manchester United dalam perpindahan yang hampir mencecah 60 juta pound (RM343.97 juta).
![EPL: Arsenal tambah masalah kecederaan Man Utd EPL: Arsenal tambah masalah kecederaan Man Utd](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/41722154245_LenyYoro.jpg)
EPL: Arsenal tambah masalah kecederaan Man Utd
Manchester United tumbang dalam perlawanan pembukaan jelajah Amerika Syarikat (AS) menentang seteru Liga Perdana Inggeris (EPL), Arsenal, di Los Angeles, hari ini.
![EPL: Leny Yoro pemain terbaharu sertai Manchester United EPL: Leny Yoro pemain terbaharu sertai Manchester United](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/41721286283_LenyYoro.jpg)
EPL: Leny Yoro pemain terbaharu sertai Manchester United
Manchester United memperkuatkan barisan generasi baru pasukan itu apabila mendatangkan seorang lagi pemain muda, Leny Yoro, dari Lille.
![EPL: Amat istimewa ada Van Nistelrooy sebagai jurulatih di Manchester United - Zirkzee EPL: Amat istimewa ada Van Nistelrooy sebagai jurulatih di Manchester United - Zirkzee](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/81721264738_tbJoshuaZirkzee.jpg)
EPL: Amat istimewa ada Van Nistelrooy sebagai jurulatih di Manchester United - Zirkzee
Zirkzee menyertai United minggu lalu selepas menandatangani kontrak bernilai 35 juta pound (RM212 juta) dari kelab Serie A, Bologna.
![Man United tewas kelab kerdil, Ten Hag 'naik angin' Man United tewas kelab kerdil, Ten Hag 'naik angin'](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/61721094442_ManchesterUnited.jpg)
Man United tewas kelab kerdil, Ten Hag 'naik angin'
Perlawanan itu seri tanpa jaringan menuju ke masa kecederaan sebelum Noah Holm menemui jaringan dengan berbaki beberapa saat.
![Manchester United sambar Zirkzee Manchester United sambar Zirkzee](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/81720998093_ManchesterUnited.jpg)
Manchester United sambar Zirkzee
Zirkzee bersetuju menandatangani kontrak lima tahun dengan kelab Liga Perdana Inggeris itu termasuk pilihan lanjutan 12 bulan lagi.
![Saya akan 'menikmati' masa dalam penjara - Patrice Evra Saya akan 'menikmati' masa dalam penjara - Patrice Evra](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/71720930107_PatriceEvra.jpg)
Saya akan 'menikmati' masa dalam penjara - Patrice Evra
Evra kelihatan tidak mengendahkan situasi itu ketika dia menari di sekeliling gelanggang bola keranjang seolah-olah berada di dalam penjara.
![EPL: Jonny Evans lanjut kontrak setahun lagi di Manchester United EPL: Jonny Evans lanjut kontrak setahun lagi di Manchester United](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/51720847107_JonnyEvans.jpg)
EPL: Jonny Evans lanjut kontrak setahun lagi di Manchester United
JONNY Evans melanjut tempohnya di Manchester United sehingga penghujung musim depan selepas menandatangani kontrak lanjutan setahun.
![Michael Olise dedah faktor tolak Man United, Chelsea sebelum sertai Bayern Michael Olise dedah faktor tolak Man United, Chelsea sebelum sertai Bayern](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/51720406639_MichaelOlise.jpg)
Michael Olise dedah faktor tolak Man United, Chelsea sebelum sertai Bayern
Bayern mengesahkan pembelian Olise bernilai GBP52 juta dari Crystal Palace dengan perjanjian lima tahun pada Ahad.