Qatari bid for Manchester United confirmed

Arab World Materials 18 February 2023 23:18 (UTC +04:00)
Qatari bid for Manchester United confirmed

A Qatar-based bid to buy Manchester United has been confirmed led by Sheikh Jassim Bin Hamad Al Thani, chairman of the Qatar Islamic Bank, Trend reports citing Xinhua.

The Sheikh issued a statement on Friday confirming his intention to try to purchase the club from the American-based Glazer family.

"Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 percent 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 FC once more," read the statement

"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 center, the stadium and wider infrastructure, the fan experience and the communities the club supports. The vision of the bid is for Manchester United FC 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," the statement continued.

The only other interest in buying the club is from Sir Jim Ratcliffe, the owner of petrochemical giant Ineos, who has already said he was "formally" in the process.

The Glazer family have been in full control of Manchester United since 2005, but have never been popular with fans for the way they shifted the loans they used to acquire control of the club onto the club itself, lumbering it with debt.

They said they were open to offers for the club in November 2022, although they are thought to be asking for over five billion pounds from any prospective buyers.