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JUST IN: Finally, Manchester United fans celebrate as club get new ownership after months of takeover bid
The wait for Manchester United new ownership could finally be over. It has emerged that Sheikh Jassim has won the race to buy the Old Trafford club, National Daily reports.
Sheikh Jassim is expected to complete Man United takeover by November
And the the Red Devils board are confident that the Qatari billionaire will complete the takeover by November.
The 63-year-old saw off competition from British billionaire Sir Jim Radcliffe after submitting five bids for United.
Jassim wants a 100% takeover of the 13-time English Premier League title champions. Meanwhile, Radcliffe was seeking for a working majority at the club that could have seen the Glazers remain as shareholders.
Again, the Qatari intends to wipe United’s substantial debt and to invest in Old Trafford and the training ground.
The Glazers were accused of slowing the takeover negotiations, given that the club was put up for sale ten months ago.
The undesirable delay has sparked fears among supporters that the Americans want to remain at Old Trafford.
But the Sun reports that Jassim is expected to take charge of United in November after his takeover victory.
Interestingly, November marks a year after the Glazers put United up for sale – meaning that the Americans have spent nearly 19 years at Old Trafford.
National Daily can confirm that the Glazers have taken more than £1.2bn out of the club and invested just £180m of their own money to complete a £780m takeover in 2005.
United fans are finally relieved after they were desperate to see the end to the reign of the Glazers. Though they had wanted the takeover be completed before the summer transfer window. However, that would not have changed the reality of their transfer budget due to the Financial Fair Play limitations.
