West Ham takeover twist
There was a noticeable sense of joy amongst West Ham fans when Sheikh Jassim’s attempt to purchase Manchester United fell through. Many assumed he might shift his focus towards acquiring a different Premier League club.
The belief that West Ham would benefit from this situation might not hold true however. To my thinking, it was far more likely that Sir Jim Ratcliffe, was a potential buyer for West Ham. In which case the turn of events in Manchester may be bad news for The Hammers.
Sir Jim was eager to invest in a Premier League football club. Despite being a Manchester United admirer, he had actually made a substantial £3 billion-plus bid for Chelsea when the opportunity arose. So it was far more likely the UK based billionaire would turn his attentions to another club if his Manchester United bid failed.
West Ham takeover twist: The Hammers are no closer to new ownership.
The situation surrounding Sheikh Jassim’s is less clear. He might consider buying another Premier League club, but it’s far from nailed-on. I’s also worth noting that Tottenham and Liverpool are also available for purchase, so it’s uncertain whether he would pursue West Ham.
Protracted takeover process
In June, Sheikh Jassim reportedly increased his offer for Man Utd. He failed to meet the Glazers’ expectations, despite surpassing the club’s $3.3 billion valuation on the New York Stock Exchange. Sir Jim Ratcliffe is now on the verge of finalizing a deal to acquire a 25 percent stake in Manchester United after Sheikh Jassim bin Hamad al Thani withdrew from the bidding process.
Sheikh Jassim’s offer, valuing United at over £5 billion, was believed to be the sole bid for the complete ownership of the club. However, the Glazers were not satisfied with his valuation, prompting Sheikh Jassim to withdraw. On the other hand, Sir Jim Ratcliffe’s proposal to acquire around 25 percent of the club is nearing completion. He is a petrochemicals billionaire and a long-time fan of the club since his childhood.
It’s assumed Ratcliffe’s ultimate ambition will be to own the Manchester club in the fullness of time.