Sheikh Jassim Bin Hamad Al Thani’s spokesman fell silent on Saturday when British journalists asked about their boss’s background. His age – 40 or 41 – is unknown, as is the origin of the banker’s assets. His officials can only confirm that his desire to buy Manchester United for around six billion euros is true.
The director of Qatari bank QIB said in a statement that he did not need to take out a loan to take over the club from coach Erik ten Hag. He wants to acquire the entire share package without third party interference. A debt of almost 600 million euros will be paid off in one go while the Old Trafford and Carrington training complexes await renovation. United coach Erik ten Hag can attract whoever he wants.
Love the club
The former Qatar Prime Minister’s son’s PR machine says he is driven by his love for the club. Sheikh Jassim does not act as a stooge for the regime in the oil country, but he will express his opinion. Therefore, he did not report for Chelsea last summer who were forced to sell due to British sanctions against their owner, Russian oligarch Roman Abramovich. Sounds too good to be true.
According to critics, Sheikh Jassim has all the characteristics of an advanced piece. After the World Cup, joining the most exciting competition in the world is the right strategy. The problem is that Qatar already has a team in Europe with Paris Saint-Germain. To avoid conflicts of interest, UEFA football association regulations do not allow two clubs of the same owner to participate in the Champions League.
With the Nine Two Foundation vehicle, referring to Manchester United’s Class of ’92 (including Phil and Gary Neville, Ryan Giggs and David Beckham), the sheikh claims to be an independent entity. In theory, that might be true, but it doesn’t seem to make sense. His father once headed the Qatar Investment Authority (QIA), a large state fund, which, among other things, bought PSG. QIA is also the largest shareholder in Jassim bank.
This transparent structure should not cause any problems for UEFA. The body previously granted permission to Red Bull Salzburg and RB – RasenBallsport, as the German association prohibited the names of the companies – Leipzig from participating simultaneously in European cup tournaments. With Nasser Al Khelaifi, president of PSG, Qatar also has the president of the European Club Association (ECA); he is also a member of UEFA’s executive committee.
Stricter regulations
The UK government’s imposition of stricter regulations on club owners may create obstacles. Provided they comply, they must show how they acquired their assets and where exactly the money came from. This gives rise to the thought that Sheikh Jassim’s spokesperson is unable to provide an answer to this question. In Qatar, the extended royal family decides everything.
A poll among Manchester United supporters showed that two-thirds would prefer the club be handed over to British billionaire Jim Ratcliffe, who has also made a formal bid. His supporters have little interest in the Qatari government, although they promise mountains of gold.
Ideally, this problem should be resolved before July 1, when the transfer window opens. Ten Hag was then able to immediately benefit from the capital injection. Sheikh Jassim, who was educated in England, is in the leading position. This would make Manchester United – after Newcastle United (Saudi Arabia) and Manchester City (Abu Dhabi) – the third club in the Premier League to be owned by an oil state. At least, no one in England believed that the benefactor navigated by his own compass.
Manchester United supporters would prefer to see their club bought by British billionaire Jim Ratcliffe
“Typical tv ninja. Pop culture lover. Web expert. Alcohol fan. Wannabe analyst. General bacon aficionado.”
