Sheikh Jassim consortium deny state backing after third bid for Manchester United

Sheikh Jassim bin Hamad Al Thani is among the front runners involved in the bidding process to takeover Manchester United.

The Qatari banker is fronting a consortium calling themselves Nine Two Foundation and it has been suggested that they are not ruling out direct engagement with the Glazers after placing a third bid.

However, there has been a lot of questions asked about where Sheikh Jassim has got this money to bid for United.

According to Mail+ (£), the Qataris deny they are a state-backed project.

Despite this, the Nine Two Foundation set up to facilitate their bid lists ‘financial subsidies, grants and any benefits allocated by the State’ as one of its source of funding.

That doesn’t add up and you would want to be extremely naive to believe this briefing.

They are trying to paint Sheikh Jassim, someone merely acting as a front man, to be a private individual who wants to buy the club and make it debt free.

One source told the Mail: “When any foundation, or indeed any company, is legally created it is normal for it to have a range of possible funding mechanisms for the future over decades of existence and investment — these include equity, loans, subsidies, donations, revenue re-injection and other resources. A standard possible source of funding is not a source of funding.”

Only time will tell if Sheikh Jassim is successful in his quest to buy United. Sir Jim Ratcliffe may have something to say about that.

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  1. Why this prejudice Abd scepticism over Sheikh Jassim’s bid to buy Manchester United. He is the only genuine buyers who has the resources and capacity to fulfil all his promises and aspirations to restore the club to its illustrious past and glory.

    1. His bid is clearly state-backed, and I wouldn’t call someone none of us know ‘genuine’.

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