Sheikh Jassim bin Hamad al-Thani’s bidding team for Manchester United are now seeking a “corrective statement” from the club’s SEC Filing.
The SEC Filing was released on Wednesday and it dominated the news. Perhaps the biggest take from it all is that Qatar failed in its bid – fronted by Sheikh Jassim – because he refused to prove he had the sufficient funds to strike a deal.
As a result, Sir Jim Ratcliffe was left to win a one horse race and now owns 25% of United.
Respected reporter Ben Jacobs has provided an update on the situation and it would be fair to say Qatar, or Sheikh Jassim personally (?), are far from impressed about how the news is being portrayed.
A source close to Sheikh Jassim’s bid team told Jacobs: “The filing – which is made by MU Plc unilaterally without consulting or having to verify with other parties – refrains from disclosing the most basic and irrefutable facts, both about the financial guarantees given and the level of offers made, all of which are fully documented. Enquiries are being made with the SEC as to a corrective statement of fact.
“It is also curious to note the widespread media reporting of the inflated level of the other competing bid at the time, and how that stacks up to reality today.”
🚨 Breaking: Sheikh Jassim's bid team are now seeking a "corrective statement" from #MUFC's SEC Filing.
🗣️ Source close to Jassim's bid team: "The filing – which is made by MU Plc unilaterally without consulting or having to verify with other parties – refrains from disclosing… pic.twitter.com/e3Qfxvyh2y
— Ben Jacobs (@JacobsBen) January 17, 2024
In other words, Sheikh Jassim’s team claim the SEC Filing omits basic facts, including financial guarantees provided.
The new documents were submitted to the United States Securities and Exchange Commission (SEC). It shows Sheikh Jassim did not respond to the club’s requests to provide a source of his funds. This led to multiple improved offers but without the required paperwork.
It was only a matter of time before Qatar left the negotiation process and it felt like they were simply wasting everyone’s time.
Now we have a future to look forward to with Sir Jim Ratcliffe and not a human rights abusing state. It’s a slap in the face to sportswashing which can only be a good thing.
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