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LONDON. – Sheikh Jassim is set to complete his full £6BILLION takeover of Manchester United by mid-October.
The Qatari royal has fought off rival bidder British billionaire Sir Jim Ratcliffe, who was willing to allow the Glazer family to retain a stake in the Red Devils.
A date is pencilled in and an announcement could come as early as next month.
Sheikh Jassim’s team are now completing their due diligence on the club before they end the 18-year reign of the loathed Glazers.
United fans will rejoice in a 100 per cent sale as they feared the Americans were dragging their heels and would eventually cling on to a slice of the club.
The Glazers wanted to continue holding shares but were warned by senior Old Trafford figures there would be a huge backlash from the fanbase.
They will make a healthy profit having lumbered United with massive debts when they completed their £800million takeover back in 2005.
The servicing of that debt has since cost United over £1bn.
And their last financial figures showed that the gross debt is £725m – the highest it has been since 2010.
Sheikh Jassim will wipe that out to save on any further fees and not take any dividend payments from the club, like the Glazers did. – The Sun
Bongani Ndlovu
Mathew Masinge