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Qatar's proposed takeover of Man Utd moves one step closer with major hurdle overcome

Ryan Smart

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Qatar's proposed takeover of Man Utd moves one step closer with major hurdle overcome

A potential takeover of Manchester United by Qatari investors has received a boost, according to a new report.

Bloomberg revealed on Monday that Qatari investors were preparing an 'imminent' bid for the club, with figures from the Qatar Investment Authority assisting those preparations.

United's current owners, the Glazer family, have set a soft deadline of Friday for offers, and it is anticipated that the Qatar group will be up against numerous other parties.

They include boyhood United fan Sir Jim Ratcliffe, who is the only person to formerly declare their interest in entering the bidding process.

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Meanwhile, journalist Ben Jacobs reports that North American investors are also keen, and a bid from Saudi Arabia is expected.

The Glazers are said to have signed confidentiality agreements with various parties, and given them access to the 'data room' - a look at the state of United's finances - ahead of any bids being submitted.

Qatar bid for Man Utd receives boost

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The potential Qatari bid has reportedly received the backing of the Emir of Qatar.

Through Qatar Sports Investments, he owns PSG, and was pictured at the Champions League last 16 first leg tie between Les Parisiens and Bayern Munich on Tuesday, which Bayern won 1-0.

The major perceived issue with any Qatari bid for United was seen as a UEFA regulation, which states that two clubs owned by the same entity cannot play in a UEFA competition, such as the Champions League.

But the Daily Mail now report that UEFA will not block any official Qatari bid for the club. It is claimed that the bid will come from a separate entity to QSI, which would therefore allow PSG and United to play in the same competition.

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This development will come as a significant boost to Qatari investors, with the Mail also claiming they are not interested in gaining a minority stake in the club.

Featured Image Credit: Alamy

Topics: Manchester United, Premier League, Qatar, Saudi Arabia

Ryan Smart
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