Sheikh Jassim’s lawyers write to Man Utd over ‘defamatory comments’ after Sir Jim Ratcliffe investment
SHEIKH JASSIM’S lawyers have written to Manchester United complaining about “a pattern of demonstrably false and defamatory” from Sir Jim Ratcliffe.
Qatari Sheikh Jassim wanted to assume 100 per cent control at Old Trafford, but ended up missing out as the Glazers opted to go with Ratcliffe’s 27 per cent minority takeover.
After the deal had been completed, British billionaire Ratcliffe was quizzed about Sheikh Jassim.
To which he replied: “Still nobody’s ever seen him, actually.
“The Glazers never met him… he never… I’m not sure he exists!”
Ratcliffe also appeared to confirm the rival bid did not produce proof of funds.
This had first been hinted at by Man Utd when they filed to the United States Securities and Exchange Commission in January.
According to The Athletic, Sheikh Jassim and Nine Two Foundation, the organisation set up for the Man Utd takeover, have sent legal letters to the Red Devils in both New York and London to complain about Ratcliffe’s comments.
They have called for “immediate corrective action” to Man Utd’s SEC filings and accused Ratcliffe of breaching a confidentiality agreement around the sales process with his recent remarks.
The Qatari bid’s initial move to complain came in January after Man Utd submitted their schedule filing to the SEC.
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This documented the events leading up to Ratcliffe’s takeover – a requirement due to the club being on the New York Stock Exchange.
In the filing Man Utd claimed Sheikh Jassim’s bid had repeatedly failed to provide “customary financing commitment letters”, which was then reported in the media as an inability to provide proof of funds.
A legal letter was sent to Man Utd from the Qataris claiming this had provided a “misleading” impression, while they also insisted this be corrected.
This demand has not been completed by the club.
The Qataris claim they provided a “definitive” proof of funds.
The Athletic are reporting they have seen evidence that “a senior executive from QNB wrote to United to confirm the ability of the Nine Two Foundation to fund the purchase of the club and clear the club’s debts”.
Meanwhile, Ratcliffe’s comments around the existence of Sheikh Jassim were addressed by Joe Ravitch, the co-founder of Raine Group who brokered the bidding process, in an interview with The Times of London last month.
He said: “We met Jassim. He was in New York. He’s a lovely guy; a very smart guy. The Qataris were very real. They were very smart guys, very thoughtful.
“I don’t know why they didn’t appreciate the value [of the club] but we were not their adviser.
“We tried as the seller to explain the value to them, and they put what they thought was a series of very serious bids on the table.”
Man Utd have been approached for comment.