Qatar confirms Man Utd bid ahead of deadline with “debt free” admission
Sheikh Jassim bin Hamad bin Jaber Al Thani, the chairman of one of Qatar ’s biggest banks, has confirmed he will bid for a 100 per cent takeover of Manchester United.
Al Thani is the son of former Qatari prime minister Hamad bin Jassim bin Jaber Al Thani. The deadline for interested parties is 10pm on Friday night as the Raine Group, who are acting on behalf of the Premier League club, look to finalise their options.
Brit Sir Jim Ratcliffe is among those who have confirmed his interest whilst parties from Saudi Arabia and the US could yet come forward.
Al Thani said in a statement: “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent 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 Football Club once more.
“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. More details of the bid will be released, when appropriate, if and when the bid process develops.”
There are concerns, notably from Premier League and Champions League, about whether a Qatar bid would create problems given the ownership at PSG. UEFA rules, known as the ‘Integrity of the UEFA Club competitions, Independence of clubs’. It states that no two clubs, operating in the same competition, can be directly or indirectly controlled by the same ownership group.
Back in November it emerged that United were “commencing a process to explore strategic alternatives for the club.” The Premier League side have said their move “is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially. As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.”
