Before Jim Ratcliffe and INEOS bought a 25% share in the club, Sheikh Jassim was the name on everyone’s lips.
When the Qatari banker and royal family member emerged as a potential buyer for Manchester United, a lot of fans really believed it was the start of a new chapter. A future that was debt free, with a rebuilt Old Trafford and no trace of the Glazers remaining. It’s what a lot of us had been dreaming of for a decade.
It all looked like things were going well for a while, but this is Man Utd, and like everything else with this club, something just had to go wrong.
Initial Interest in a Takeover
The story really starts back in 2022, when the Glazers announced they were “exploring strategic alternatives”, which is business talk for “we’re listening to offers”.
This made fans hopeful, but when Sheikh Jassim entered the race in February 2023, the tone really changed. He wanted 100% of the club, and he was willing to pay big money for it. In other words he wanted total control. The Glazers would need to pack their stuff and hand over the keys.
He even set up the Nine Two Foundation as a vehicle for the bid. Nine Two. Ninety Two. The Class of ’92. This guy was serious, and he was trying to show the fans he was more than just a corporate cash machine.
He made it clear his takeover would be the start of a complete reset. Zero debt, a heavily redeveloped or brand new stadium, Carrington upgraded and modernised, the women’s squad would get investment, and fans were repeatedly told that they would be at the heart of the club’s future.
His people visited Manchester and did a lot of due diligence, he submitted multiple improved offers when the Glazers asked for more, to the point where he had tabled a final offer worth over £5 billion plus substantial investment to infrastructure and both senior squads.
It all sounded perfect, so what went wrong?
Why Sheikh Jassim’s Man Utd Bid Failed
There are mixed reports as to what went wrong.
There was certainly a valuation gap, with the Glazers wanting even more than the £5 billion+ that Sheikh Jassim had offered, but reports from the club suggested other issues too.
Primarily, they said that the additional financial documentation they had requested from the Qatari team had not been supplied in the required form. They wanted evidence and formal guarantees that the money for the takeover was secured and committed, but Sheikh Jassim had not satisfied them in this.
However, this was disputed by the Qatari side, who said they had provided everything that was requested, but the price itself was the issue, not the paperwork.
Were the Glazers trying to blame the Qatari’s for the Sheikh Jassim Man Utd bid falling through to keep the fans off their backs? Who knows, it’s certainly a theory. Regardless, the outcome was the same.
Both sides blamed the other, and in October 2023, the bid was officially withdrawn.
Enter INEOS
INEOS owner Sir Jim Ratcliffe had already announced his interest, but when Sheikh Jassim’s bid fell apart he became the front runner.
But as we all know, it was a very different sort of deal.
Instead of a complete buyout, the Glazers would accept £1.25 billion for a 25% stake in Manchester United, with a further £300 million committed to improve infrastructure. Additional shares would be granted once this extra money was delivered, taking his overall stake to 29%.
Another key component of the deal, was for INEOS to take full control of the football operations, despite being the minority shareholder. That meant recruitment, training strategy, long term planning, and the overall sporting direction of the club would be out of the Glazers’ hands.
In other words:
- Glazers = Corporate
- INEOS = Football
It wasn’t the clean break fans wanted, but it allowed for the reset, and there is always scope for Sir Jim to buy more of the club going forward.
Why Sheikh Jassim’s Name Reappeared In 2025
After the shocking 2024/25 season where we finished 15th and crashed out of Europe, the Sheikh Jassim Man Utd takeover rumours resurfaced.
Our fan base is notoriously impatient, and people were already calling INEOS and Sir Jim Ratcliffe’s reign a failure. Coupled with a media who are desperate for Manchester United focused headlines, and it was inevitable that reports claiming renewed interest from the Qatris would come out.
Rumours about another bid, this time for £8 billion floated around, several reports focused on Sheikh Jassim still being interested if the opportunity arose, and Turki Alalshikh – a Saudi entertainment chief – caused a social media stir when he suggested another unnamed investor was in talks:
My yesterday’s post about Manchester United’s potential sale meant one thing: the club is in an advanced negotiation phase with a new investor. Just to clarify, I am not the investor, nor are they from my nation. I’m posting this as a fan who wishes the deal to happen, though it…
— TURKI ALALSHIKH (@Turki_alalshikh) October 9, 2025
But it was utter nonsense and he quickly backtracked.
Part of the reason these rumours took hold is that a lot of people wanted them to be true, so were more inclined to believe them. To get rid of the Glazers once and for all is still top priority for thousands of Man United fans, but as things stand, it looks like they will be around for a while longer.
Sheikh Jassim’s Man Utd bid might have failed, but it certainly left an imprint.