Man Utd takeover race 'won by Sheikh Jassim' as date set to complete £6bn deal

Sheikh Jassim has won the Manchester United takeover race and will complete the £6billion deal in October, according to reports.

British billionaire Sir Jim Ratcliffe has been in competition with the Qatari royal ever since the Glazer family announced it was open to selling the Old Trafford club, and Sheikh Jassim has now come out on top, report The Sun.

The Glazers were initially keen to retain holding shares at Man United but were warned by senior figures at the club of the potential for fan backlash, and have now agreed to hand over 100 per cent of the asset.

The takeover is expected to be finalised in mid-October while Sheikh Jassim and his team complete their due diligence, but an announcement could come as soon as next month, the paper adds.

The Glazers bought Man United for £790million back in 2005 and will make a huge profit on their original investment.

Should everything go through as planned in October it will put to bed a year-long saga after the Glazers put the Old Trafford club on the market in November 2022.

A club statement at the time read: "Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company's Board of Directors is commencing a process to explore strategic alternatives for the club.

"The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.