Manchester United have claimed that Sheikh Jassim bin Hamad Al Thani did not provide proof of funds during his attempt to complete a 100% takeover of the club.
In November 2022, the Glazer family signalled a willingness to enter into discussions over a sale of the 20-time English champions, and it was widely reported that Sheikh Jassim was the favourite to purchase the club, ahead of British billionaire Sir Jim Ratcliffe.
However, Sheikh Jassim officially withdrew his interest towards the end of last year, and it was announced on Christmas Eve, following weeks of discussions, that Ratcliffe had agreed to purchase 25% of the Red Devils.
Ratcliffe said ahead of Man United's clash with Tottenham Hotspur on Sunday that the deal would be ratified by the Premier League at some stage in February, and the 71-year-old is set to take over the football department.
According to documents that were submitted to the United States Securities and Exchange Commission (SEC), Sheikh Jassim and his team failed to provide proof of funding despite numerous attempts from the club.
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The Qatari banker was in discussions over a potential takeover between February 2023 and October 2023 before it was revealed that he had withdrawn from the process.
Sheikh Jassim's offer for the Red Devils was 100% ownership, but Ratcliffe ultimately structured a deal which would see him come in at an initial 25%, making him a minority shareholder.
As part of the documents which were submitted by Man United, it was said that Bidder A (Sheikh Jassim) failed to submit the "customary financing commitment letters".
The club will instead move forward with Ratcliffe on board, and Sir Dave Brailsford and Jean-Claude Blanc are also set to have major roles at Old Trafford as part of the changes which are planned.
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Brailsford, who is the director of sport for INEOS, has been at every one of Man United's matches since Ratcliffe's deal was announced.
Meanwhile, Blanc - chief executive officer of INEOS Sport - has also been present in the stands alongside Brailsford, and the Frenchman will also seemingly be a leading figure at Man United moving forward.
There remain question marks over Erik ten Hag's long-term position as head coach, with the Red Devils struggling for consistency during the 2023-24 campaign.
Ten Hag is not believed to be in any immediate danger, but the Dutchman's job will be on the line if he is unable to oversee an improvement with a stronger squad in the coming weeks.
Man United drew 2-2 with Tottenham in the Premier League last weekend, and they will not be back in action until January 28 against Newport County in the fourth round of the FA Cup.
Matt Law
