Sheikh Jassim sends ‘Grievance’ letter after being used by Glazers

The Glazers played a quick one with Manchester United when news broke out that they were not interested in selling the club’s stakes to Sheikh Jassim, the club’s highest bidder.

Instead, the club right out of the blue, agreed to a 25% sale of the club to British billionaire, Sir Jim Ratcliffe who also was another bidder for the club’s sale and a rival for Sheikh Jassim.

The Qatari billionaire looked to be the dream owner that Manchester United fans dreamt of and when news came out that the Qatari was pulling out from purchasing the club, it left the internet whirring as the fans took to the media.

It is now being reported that Sheikh Jassim bin Hamad has echoed similar sentiments via a letter written and sent to the Glazers.

According to the SportZone report, who initially broke the news of Sheikh Jassim’s letter of complaint, it suggests that Sheikh Jassim believes the Glazer family never genuinely intended to sell Manchester United.

Instead, he alleges that they used the takeover process as a means to inflate the club’s valuation and secure the sale of minority shares at a premium price.

Throughout the 11-month-long takeover process, Sheikh Jassim made multiple offers for Manchester United. He pledged a substantial cash offer through the newly formed Nine Two foundation, which would have effectively wiped out the club’s existing debt.

Remarkably, his proposal exceeded the market capitalization of the club by nearly twice its value. Additionally, Sheikh Jassim committed to investing an additional £1.4 billion into the stadium and the team.

The repercussions following the Glazers folly was noticeable however as Manchester United’s stock market price experienced a significant downturn.

Manchester United’s stock market price plummeted by approximately 22 percent.