Qatari investors will reportedly place an imminent bid for Manchester United as the Glazers’ deadline for proposals looms.
The Glazers are desperate to flog the club they’ve owned for 18 years after developing a frosty relationship with United’s fans who can’t wait to see the back of the Americans. And the owners have placed the Red Devils on the market for around £6billion.
However, interested parties have got until Friday February 17 to place their bids to the Glazer family. And the chance to own United has drawn interest from a group of wealthy Qatari businessmen who see the Red Devils as ‘football’s crown jewels.’
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The collective from the uber-rich nation, described by the Daily Mail as a ‘group of private, high-wealth individuals based in the oil-rich state’, have been concocting a bid for the 13-time Premier League champions since last week. And now, the group are poised to make a concrete offer for United with the backing of sovereign wealth fund, the Qatar Investment Authority, Bloomberg reported.
The sovereign wealth fund has Sheikh Tamim bin Hamad al-Thani at the helm, and he’s said to be a huge fan of the Red Devils, it was added. And with the help of the wealth fund’s officials, the Qatar-based financers will make a bid for United before the deadline with the aim of “cementing the country’s desire to become a major player in global sports.”
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It hasn’t been confirmed at this stage, but the Daily Mail claim that the Qatar Investment Authority’s proposed bid for United could pose a conflict of interest as they’re part of the state’s sovereign wealth fund who owns PSG.
And this could cause an issue for the two sides if they both qualify for the Champions League, although UEFA are willing to look past that and waive the bid through, the Mail added.
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Part of the Qatari investors’ bid will allegedly include a £1.2billion fee to renovate Old Trafford. And they also plan to hand Erik ten Hag a huge transfer war chest in their bid to turn United into a football superpower once again.
However, the Qatari investors will have to fend off interest from at least five parties who also want to buy United. Sir Jim Ratcliffe, who failed in his previous bid to buy Chelsea is the most notable part of potential buyers, as the English billionaire magnate reportedly enlisted the help of Wall Street giants JP Morgan and Goldman Sachs to help with his bid.
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