Qatar ‘make £5 billion offer for Manchester United’ as Glazer deadline looms
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Investors from Qatar have made an offer to buy Manchester United off the Glazer family.
Last November, the current United owners announced that they were putting the club on sale after more than 17 years at the helm.
As United are one of the biggest clubs in world football, the interest surrounding the sale was always going to be big.
According to Sky Sports reporter Kaveh Solhekol, a bid has officially been made.
He tweeted: “Sheikh Jassim Bin Hamad Al Thani, the chairman of one of Qatar banks QIB has made bid for Manchester United. Wants to restore United to former glories with emphasis on youth and infrastructure. No debt. All profit to be reinvested in community through 92 Foundation.”
Although there was not an exact figure, it was previously reported that the bid is expected to be in the region of £5 billion.
A statement read: “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
“The bid plans to return the Club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United Football Club once more.
“The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports.
“The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops.”
Apart from Qatar, offers are expected to be made from around the world, including a bid from the United Kingdom.
Chemicals firm Ineos boss Sir Jim Ratcliffe went public with his intentions to buy United in order to put the club back under British ownership, having been a lifelong fan of the Old Trafford club.
Tesla owner and fellow United fan Elon Musk is said to be keeping an eye on the situation, worth £157 billion, the price should not prove to be an obstacle for Musk and allows the Glazers to keep United under American stewardship.
It is believed that bids from Saudi Arabia, China and Singapore are also expected. This will be music to the Glazers’ ears as they hope a bidding war will increase the ultimate sale price of the Red Devils.
Who will become the new owners of United? Only time will tell.