MANCHESTER UNITED bidder Sheikh Jassim has illustrated his love for the club with the name of his company set up to bid for them.
Qatari Sheikh Jassim Bin Hamad Al Thani launched a £5bn offer to buy the Red Devils prior to yesterday’s deadline.
He is going up against boyhood fan Sir Jim Ratcliffe, but he has shown off some of his own credentials as a United supporter.
Sheikh Jassim has called his company the “Nine Two Foundation” – in homage to the fabled Class of 92.
The Class of 92 has gone down in Manchester United folklore, as the academy team to have featured the likes of David Beckham, Paul Scholes, Ryan Giggs, the Neville brothers and Nicky Butt.
Sheikh Jassim is the son of former Qatari Prime Minister Hamad bin Jassim bin Jaber Al Thani.
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He has promised to clear the club of its debts while restoring it to “former glories”.
Sheikh Jassim wants to buy the club outright from the Glazer family, who stand to make around 40 TIMES what they paid for them.
Having purchased the club in a leveraged buy-out, the Glazers spent only around £150million on Man United, while receiving dividends in many years.
They are now chasing £6bn for the club, but could sell for between £4bn-£5bn.
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The Glazers will also pocket the money tax free, having relocated United HQ from Old Trafford to the Cayman Islands.
The Raine Group, the bank overseeing the sale, will determine the next step, following last night’s soft deadline.
This will involve putting together a shortlist of bidders, much like the one that was compiled during the process that saw Todd Boehly buy Chelsea last year.
Sheikh Jassim’s rival bidder Sir Jim Ratcliffe wants to “put the Manchester back into Manchester United”.
A source close to the INEOS chief told the Telegraph: “His aim is to be a long-term custodian of Manchester United and set the standard for a progressive approach to club ownership.
“As locally born, he wants to put the Manchester back into Manchester United.”
Source: Soccer - thesun.co.uk
