LONDON: English football club Manchester United 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.