Sheikh Jassim’s Man Utd takeover plan as Sir Jim Ratcliffe struggles continue

There was a competition between Sheikh Jassim and Sir Jim Ratcliffe to purchase Manchester United, but Sheikh Jassim’s offer was ultimately rejected because Sir Jim Ratcliffe was already on board. However, the Qatari plans have been unearthed if he had been in charge.

Despite the fact that Sheikh Jassim bin Hamad al-Thani was unsuccessful in his attempt to acquire Manchester United, Sir Jim Ratcliffe emerged victorious. Despite this, the Qatari’s ambitions have been made public.

‘Project Ruby’ was supposed to be led by the Sheikh, and it would have involved a Qatari consortium paying off the club’s debts and constructing a new stadium. Instead, Ratcliffe’s offer to purchase a minority part in the club was accepted, despite the fact that the British billionaire is in charge of the football operations in Manchester.

In spite of the euphoria that has been surrounding the entry of INEOS, a number of their actions have been met with disapproval, and the club has made very little to no development since their inclusion. It was reported by the Daily Mail that the Qatari group had already written a strategy to disclose their ambitions for the first few days after their acquisition of the company.

It is generally accepted that they will disclose the elimination of the club’s debts on the second day of their term as owners. According to the most recent numbers for the first quarter of the 2024-25 season, which were disclosed as of the previous month, the club’s long-standing debt is currently £520 million ($650 million), which brings the total amount to £714 million.

In addition to this, they intended to remove the club from the New York Stock Exchange, where its shares have been listed since the summer of 2012 and are presently selling at approximately $14 ($17).

Following the announcements, they were going to disclose a fully funded proposal to construct a new stadium with seating capacity ranging from 90,000 to 100,000 people, which would be paid by the club. The deterioration of Old Trafford has been allowed to continue, and it is necessary to make a decision regarding whether or not to remodel their existing stadium or to construct an entirely new site.

Sheikh Jassim is still holding out hope that he will be able to complete a purchase of the Premier League giants in the future, despite the fact that his bid for them was unsuccessful. An advisor from Qatar stated that Sheikh Jassim is still a supporter of Manchester United. The decision to try out another Premier League team is not going to be made hastily by him. In the event that the possibility of purchasing the entirety of Manchester United emerged once more at some time in the future, it is difficult to imagine that there would not be a significant amount of interest in doing so. There has been no change to the plans.”

The ‘Old Trafford Regeneration Task Force’ has been established by INEOS since its arrival, and Lord Sebastian Coe is serving as the chairperson of this group. After that, the club announced earlier this month that it anticipates making a decision about the redevelopment of Old Trafford or the construction of a new stadium during the summer.

Omar Berrada, Jason Wilcox, and Dan Ashworth were all brought on board by Ratcliffe, who moved quickly to construct a whole new structure as soon as possible. Despite this, Ashworth has already been kicked out of Manchester after making a series of poor choices, for which he has already paid the price.

In addition, the billionaire has laid off a significant number of employees at the club in an effort to bring about a shift in the way that the club operates. Not only has he increased the cost of season tickets, but he has also terminated the ambassadorial contract that Sir Alex Ferguson had with the club.