Qatar Consortium Bids for Total Control of Manchester United

Qatar Consortium Bids for Total Control of Manchester United

A consortium led by Sheikh Jassim Bin Hamad Al Thani, Chairman of Qatar Islamic Bank (QIB), announced on February 17 that it had submitted an offer to take over English Premier League club Manchester United Football Club.

“Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club,” the press release issued by the consortium said. The statement did not give any details on the amount proposed in the bid for the club but the price could reach a record 6 billion euros, according to reports. It added that 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, the consortium added.

The American Glazer family, who completed their takeover of the 20-times English champions in 2005, announced in November that they were open to a sale or investment. British billionaire Jim Ratcliffe’s Ineos Group officially joined the race to buy the club in January.