Exclusive: Manchester United negotiate exclusivity with Qatar’s Sheikh Jassim in sale talks worth more than $6 billion

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June 15 (Reuters) – England’s Manchester United soccer club is negotiating exclusivity for the consortium led by Qatari Sheikh Jassim bin Hamad Al Thani in talks to sell itself for more than $6 billion, people familiar with the matter said. He said on Thursday.

One of the sources said that members of the Glazer family, who own minority stakes in Manchester United and control it thanks to a dual class share structure, will receive the money as part of the proposed deal.

The sources added that the Qatari offer is currently being viewed by Glazer better than the offer of British billionaire Jim Ratcliffe, founder of the chemical production company Ineos. The Ratcliffe bid envisions the Glazers maintaining some interest in Manchester United.

Manchester United is widely regarded as one of the most valuable assets in all of sport. The $6 billion deal would make the deal one of the largest sports deals ever, following a similar-sized sale to the NFL’s Washington Chiefs earlier this year.

Manchester United shares jumped nearly 15 percent on the news, before paring some of the gains.

Manchester United will not be allowed to negotiate with any bidder other than Sheikh Jassim for an exclusive period. It is not possible to know how long this period may take. The sources warned that the situation remains volatile and that a new offer from Ratcliffe may prevent Sheikh Jassim from obtaining the exclusivity.

The sources asked not to be identified because it is a matter of confidentiality. Representatives for Manchester United and Sheikh Jassim did not immediately respond to requests for comment.

The club is the fourth richest football club in the world, according to Deloitte analysis.

Reporting by Anirban Sen in New York Additional reporting by Amy Jo Crowley in London Editing by Greg Romeliotis

Our Standards: The Thomson Reuters Trust Principles.

Anirban Sen

Thomson Reuters

Anirban Sen is the US mergers and acquisitions editor at Reuters in New York, where he leads coverage of the biggest deals. After starting with Reuters in Bangalore in 2009, Anirban left in 2013 to work as a technology deal reporter for several of India’s leading business news outlets, including The Economic Times and Mint. Anirban returned to Reuters in 2019 as Finance Editor to lead a team of reporters covering everything from investment banking to venture capital. Anirban holds a degree in history from Jadavpur University and a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Call: +1 (646) 705 9409

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