Controversial Qatari Bid for Manchester United Failed To Show Proof Of Funds

The controversial Qatari bid to buy Manchester United never showed they actually had the money to do so, it’s been revealed.

Sheikh Jassim bin Hamad Al Thani and his team, who withdrew from the process after 9 months of talks, repeatedly failed to provide “customary financing commitment letters”.

Before he opted out of the process Jassim sent a number of revised and improved bids, which the Manchester United board of directors to as the camp for “sufficient evidence of the financing and customary financing commitment papers” in order to continue.

An informal board on December 22 after opposing bidders Ineos threatened to walk away from the process helped to push the move through.

Filings made to the US Securities and Exchange Commission confirmed Sir Jim Ratcliffe’s acquisition of 27.69% of United for approximately £1.3 billion.

Under Ratcliffe, Ineos, will now take over the sporting operations of the club from majority owners the Glazer family.