MU will grant exclusive rights to a group led by Qatari billionaire Sheikh Jassim to negotiate the acquisition of the club for about 5.5 billion pounds.
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| MU will negotiate with billionaire Sheikh Jassim during the exclusive period. (Source: Qib.com.qa & Man Utd) |
Reuters sources said that the Glazer family (who have owned the team since 2005) will withdraw all cash as part of the historic purchase agreement.
The Qatari billionaire's offer was rated higher by the Glazers than the bid submitted by Sir Jim Ratcliffe and the chemical group INEOS.
United will not be allowed to negotiate with any other bidders other than Sheikh Jassim during the exclusivity period. It is not yet known how long this will last.
MU shares increased about 15% as soon as the news was released, even though the US stock market was still trading in the session.
Also on June 15, Nine Two Holdings Ltd, a company linked to Qatar and billionaire Sheikh Jassim, was officially established in the UK, with headquarters in London.
This is an important step towards Qatar taking over the Manchester club. Nine Two Holdings is headed by billionaire Sheikh Jassim and Abdulrahman Al-Ansari.
On his personal Youtube channel, former centre-back Rio Ferdinand also posted a video declaring that he heard that Qatar was preparing to take over MU in a few hours.
Rio Ferdinand said excitedly: "I know Qatar's bid has just been accepted and passed by the Glazers. I'm so happy everyone! I can't wait. Please make it happen.
The Glazers are willing to sell to the highest bidder. This is also normal in negotiations. Hopefully the sale will be completed soon so that MU can rush into the transfer and shopping for new players."
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