Manchester United takeover: Qataris to bid for club amid interest from USA, Saudi Arabia and Sir Jim Ratcliffe’s INEOS
Investors linked to the Qatari royal family will bid to buy Manchester United on Friday.
Investors from the US and Saudi Arabia will also bid for the club, Sky Sports News understands, alongside Sir Jim Ratcliffe’s INEOS group, which has already made its desire to bid for United public knowledge.
The Raine Group, which is organising the potential sale of the club on behalf of the current owners, the Glazer family, has asked for initial bids to be made by 10pm UK time on Friday.
The Glazers want at least £5bn to sell the club but an insider has told Sky Sports News that no party will want to go big with their initial offer.
A Qatari bid for Manchester United would lead to significant investment being made in the team, Old Trafford and the city of Manchester.
Old Trafford and United’s Carrington training ground need to be redeveloped and the Qataris are ready to spend significant sums in restoring the team and the club’s infrastructure to its former glories.
Although the Glazer family wants at least £5bn for United, Qatar is determined not to overpay. One insider says “they will not dance to the Glazers’ tune”.
The Qatari bid would have the blessing of the Emir of Qatar Sheikh Tamim bin Hamad al-Thani, who is a Manchester United supporter.
Other bids for Man Utd
Qatar and the bid from Saudi Arabia are expected to be the only ones that would not rely on borrowed money to finance the deal.
Elon Musk, one of the world’s richest men, has so far stayed silent on reports that he is considering making a bid. Musk is a United supporter and has joked in the past on Twitter – the social media platform he now owns – about buying the club.
Another bidder who has declared his interest in United is petrochemicals billionaire Ratcliffe. He is working on a deal with US investment banks Goldman Sachs and JP Morgan.
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If Qatar were to buy United, they would also remain committed to Paris Saint-Germain, which is owned by Qatar Sports Investments, a subsidiary of Qatar’s sovereign wealth fund the Qatar Investments Authority.
To satisfy UEFA rules about multi-club ownership, Manchester United would be owned by investors or funds linked to the Qatari royal family.
Qatar is determined to buy or own a stake in a Premier League club this year to build on what they see as the success of the World Cup.
