Manchester United Takeover Nearing Completion




Manchester United

Manchester United

The reported buy outof Manchester United, the biggest sporting franchise in the world will be soon completed by Qatar holdings, the investment firm of the Qatar royal family, is set to be completed in the coming weeks, if the reports from the Daily Express are to be believed.

The reports suggest the 1.6 Million Euro worth bid from the Qatar based firm is accepted, with only finer details awaiting negotiation.  Once the deal is completed, the Glazer family, who invested 790 Million Euros, will get a double return on their investment, they made in the club six years back in 2005.

If the article turns out to be true, tomorrow’s Manchester Derby would be United’s last game under their American owners, with cross city rivals already enjoying benefits of a wealthy owner.  From being a mid-table team to challenging for the title, their fortunes have changed, and the Red Devils wouldn’t mind some more cash flow. Well no club would.

The deal looks like a realistic possibility, with the Qatar Royal Family having recently invested in purchasing the shirt sponsorship rights of Barcelona FC another leader in world football.

Malcolm Glazer completed the takeover of the Lancashire based club in July 2005; Glazers takeover put a lot of debts on the club, suffering the wrath of the many loyal supporters. Glazer he had arranged the money by securing loans against the club assets, putting a pile of debt on the club

Following the takeover Man United continued to thrive with 2006 season seeing Old Trafford’s capacity being expanded and a lucrative shirt deal being signed with American company AIG (which would face financial insecurities in the future and be replaced by AON).  The Glazers assured the fans that the jobs of Manager, Sir Alex Ferguson and CEO, David Gill, citing the outstanding success the duo achieved.

In recent times on 11 January 2010; Red Devils debts increased to 716 Million euros ($1.17 Billion), Manchester United though assured their fans their intention to refinance the debt, through a bond issue worth 500 million Euros, 504 Million Euros were raised just under two weeks clearing all the money, united owed to international banks

A large section of the united fans would welcome this move as many of the united supporters took part in the Green and Gold scarf campaign demanding the exit of the Glazer family from their beloved club.

Well if the Qatar holdings manage to buy the biggest club in the world. It is truly going to be one hell of a swoop, a message from the Red Devils to the blue half of Manchester – Beware.

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Ojas Mhatre

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Hello guys, all you sports fans. This is Ojas Mhatre here I am 16 and I am giving my HSC exams this march so pray for me. But that is besides the point I am a sports fanatic, I have represented the state in cricket and played football at district-level. February is a special month for me Last month this time I was called for a trial with the Royal Challengers Bangalore and, this time I get to write for you. Hope to entertain you with my articles mainly on football as I am a big Arsenal and Bayern Munich fan, But also Cricket and Tennis. Here's hoping I become the most loved writer. Guys your love matters the most to me, Cheers to our relationship getting on the right foot.

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