While there are still doubts that a deal will be struck, these developments represent a major step forward in the efforts of Sheikh Jassim, the son of the former Qatari prime minister, to take over the club.
One of the sources added that members of the Glazer family, who hold minority stakes in the club but control it through a two-class share structure, would sell their stake as part of the proposed deal.
The sources said the Qatari offer currently has a preference for the Glazer family over British billionaire Jim Ratcliffe’s offer, which will allow its members to retain some stake in the club.
During the agreed exclusivity period, Manchester United will not be able to negotiate with any party other than Sheikh Jassim. The length of the period was not specified. The sources said the situation has not yet been resolved and a new offer from Ratcliffe could prevent exclusive negotiations with Sheikh Jassim.
The sources requested anonymity due to the confidentiality of the matter. Representatives for Manchester United and Sheikh Jassim could not be reached for comment.
The club’s shares jumped about 15% after the report, before ending Thursday’s New York trading sessions up 6.8%, taking the price per share to $24.81.
If sold for $6 billion, it would become one of the biggest sports deals of all time, following in the footsteps of the NFL’s Washington Commanders, who sold this year.
It also outperforms other deals made in the world of football. An investment group led by Todd Boley and Clearlake Capital acquired Chelsea for $3.1 billion, 5.7 times more than the club’s revenue in the previous financial year.
If sold for more than $6 billion, the deal’s value would be 10 times its annual revenue last year, according to Refinitiv data.
The Glazer family, who made their fortunes in real estate, retail and healthcare and also own the NFL’s Tampa Bay Buccaneers, acquired Manchester United in 2005 for 790 million pounds ($1 billion).
Data analytics firm Kantar reveals that 20-time English champions United have more than 650 million fans worldwide. A large part of these fans demanded a change in club ownership.
And fans believe the club’s fortunes have worsened, led by the Glazer family, as the team have not won the league since 2013.
United won the League Cup that season, led by manager Eric ten Hag, but finished the league in third place, 14 points behind local rivals Manchester City.
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