Manchester United fans will be furious to know that their club could have been fixed in ‘three days’ if Qatar had been successful in their bid – not INEOS
Sir Jim Ratcliffe’s hopeful business venture into Manchester United has turned sour – and United fans have now been told what they could have had if Qatar’s bid was successful.
Before the founder of INEOS secured his £1.25b deal for 27.7 per cent of United, there was a possibility that the entire club could be sold. Qatari banker Sheikh Jassim bin Hamad Al Thani had made on offer to buy United after the Glazer’s announced they were thinking about selling.
Sheikh Jassim had bid £5b for the club. The Glazer’s originally purchased United for £790m in 2005. Talks regarding the takeover broke down and the offer was eventually withdrawn. However, supporters at Old Trafford will now be hoping that it went through.
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The Mail has revealed an inside scoop into what could have happened at England’s biggest football club if the Qatari bid was successful and they were allowed to buy Man Utd.
The operation titled ‘Project Ruby’ would have seen a carefully drafted plan led by some of the best sporting and finance professionals in the world. It would also have had the backing of the unfathomable wealth being brought from Qatar. Most importantly, it would all be done in three days.
Day one would have seen the announcement from the Qatari’s to takeover the club. On day two, all the club’s debt would be removed. You read that right. All of United’s £700m+ in debt would be cleared on day two.
Day three would have seen Sheikh Jassim announce plans for a brand new state-of-the-art stadium. Ratcliffe has himself announced plans for a new stadium which is being dubbed the “Wembley of the North.”
United supporters can continue to dream of this new stadium while water leaks on them from the dodgy roof at Old Trafford.Years of financial burdens, ownership woes and stadium troubles would be cleared in just three short days.
Now almost a year into INEOS control, some fans would argue the club is in worse of a state than it was before.
The plans for a new stadium had already been in the works. The designers responsible for many of the stadiums at the 2022 World Cup in Qatar, Populous, had already created the plans for the ground. A stadium with a capacity of between 90,000 and 100,000 was being genuinely considered.
JLL, a leading commercial property company, were already signed up to work on the project.
The women’s team, a side that Ratcliffe was criticised for suggesting weren’t part of the ‘first team’, would have their own funding plan and training centre. Amongst this flood of negativity, there is a glimmer of hope.
An advisor told The Mail: “Sheikh Jassim is still a rich guy. He is still a United fan. He is not going to rush off and try another Premier League club.
“If the opportunity to buy the whole of Manchester United arose again at some point in the future it is hard to see there not being a big level of interest. The plans are still there.”