Former Manchester United bidder Sheikh Jassim may have to look elsewhere in his pursuit to take over a Premier League club. The Qatari banker has been linked with a potential takeover at the Red Devils Premier League rivals Tottenham Hotspur, who are on the hunt for fresh investment.
Spurs chairman Daniel Levy is in talks to sell a 10 per cent stake in the club, to increase its value to £3.75billion and raise fresh capital for new players, develop an academy for its women's team and build a new 30-storey hotel next to the Tottenham Hotspur Stadium, football.london reports.
Former Newcastle United minority shareholder Amanda Staveley is said to be in talks to purchase a ten per cent share in the North London club, after raising £500m through her investment company PCP Capital Partners.
Levy has made it clear he won't be selling his majority stake in the club. When quizzed on the reason behind selling shares in the club, he said: "To capitalise on our long-term potential, to continue to invest in the teams and undertake future capital projects, the club requires a significant increase in its equity base. The board and its advisors, Rothschild and Co, are in discussions with prospective investors."
The decision to sell just a minority share will come as a blow to Sheikh Jassim, who was reluctant to buy a minority share in Manchester United prior to Sir Jim Ratcliffe purchasing a 25 per cent stake in the club for £1 billion earlier this year which brought an end to a 15-month saga.
Earlier this year, Jassim said he would be taking legal advice in the USA after claims he did not provide proof of funds for his £4.5 billion bid when trying to buy Manchester United. The Qatari's insist a takeover deal at Old Trafford did not materialise as they felt they were overpaying for the club - which was valued around the £2.6bn mark.
Jassim had made a pledge to return United to the glory days that preceded Sir Alex Ferguson's departure in 2013 in a statement back in 2023 when he launched his bid for the club. "The offer aims to restore the club to its former glory, both on and off the pitch, and will focus on putting fans back at the heart of Manchester United Football Club," he said.
The 41-year-old offered $8bn (£5bn) in cash to wipe the Glazers debt and provide new facilities for the Red Devils Man United in exchange for 100 per cent shares in the club but his offer was rejected outright by the Glazer family. Ineos executive Ratcliffe is now in charge of footballing operations at the club after his $1.6bn (£1.3bn) bid for 25 per cent of the club was approved earlier this year.
The Qatari banker may have lofty Premier League aspirations but that won't be at United and he may have to rethink his stance about owning a minority share if he has his eyes set on Spurs.