Qatari billionaire close to finalizing deal to acquire Manchester United.
Qatari banker Sheikh Jassim will officially take over Manchester United in October 2023.
According to an exclusive report from The Sun, Sheikh Jassim's team is currently assessing the club before officially taking over from the Glazer family.
A bid of nearly £6 billion from Qatar beat out British billionaire Sir Jim Ratcliffe, who was willing to allow the American owner's family to retain a small stake in the club.
Manchester United fans will be delighted by the news that the Glazer family is selling 100% of their shares, as they are fed up with the club's overly commercial management style over the past 18 years.
In fact, brothers Avram Glazer and Joe Glazer want to stay, but the top brass at Old Trafford warn that this would provoke a backlash from the fans.
The Glazers will make a huge profit when the deal is completed. Back in 2005, they bought Manchester United for just £800 million.
The latest financial figures show that Manchester United's total debt has reached £725 million, the highest level since 2010.
Sheikh Jassim has pledged to clear Manchester United's debts as soon as he takes over the club, and also to waive any dividend payments from the club.
The Qatari banker also plans to upgrade Old Trafford stadium, the Carrington training center, and continue investing in the team.
