Kieran Maguire: Sheikh Jassim to have ‘complete control’ of Man United as New York plan revealed
It is “highly probable” that Sheikh Jassim would take Man United off the New York Stock Exchange in order to have “complete control” when running the club.
That is the view of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the pros and cons of Man United being listed in the New York Stock Exchange.
Sky Sports report (10 March) that Sheikh Jassim is prepared to buy Man United for a fair price but “not be reckless”, with his £4.5billion valuation still well short of the Glazer’s £6billion asking price.
Football Insider revealed back in December that Man United would likely be taken private if they are bought by a state-affiliated group from Qatar.
Maguire believes that taking the Red Devils off the NYSE would “reduce the level of financial scrutiny” on new owners, allowing them to publish their financial report annually instead of quarterly.
“I think it is highly probable that if Sheikh Jassim did acquire Man United that he would take the club off the New York Stock Exchange,” Maguire told Football Insider’s Sean Fisher.
“It would reduce the level of financial scrutiny as they would only have to publish one set of accounts each year as opposed to the quarterly reporting that is in the rulebook in New York.
“It would have no negative impact as far as Man United’s commercial strategy is concerned as that deals with relationships with sponsors and partners as opposed to shareholders.
“They could have fewer problems in the sense that they would not be subject to compulsory meetings with interested parties when the accounts are announced.
“They can have complete control of running the club both in the capital structure and key decisions regarding infrastructure and recruitment.“
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