Monitoring Desk
ISLAMABAD/MANCHESTER: Sheikh Jassim bin Hamad Al Thani, the chairman of one of Qatar’s biggest banks, has confirmed his bid to buy Manchester United, one of the football clubs of the Premier League.
BBC Sport said that Ineos, owned by Sir Jim Ratcliffe, also made a bid before Friday’s ‘soft deadline’ for proposals. Billionaire Jim had already expressed his interest in buying Man United.
The Glazer family, who bought Manchester United in 2005, is considering selling the Old Trafford-based football club as they “explore strategic alternatives”.
Sheikh Jassim’s Qatari consortium said the bid plans to return the club to its former glory.
“The bid would be completely debt free via Sheikh Jassim’s Nine Two Foundation, which would look to invest in the football teams, the training center, the stadium, and broader infrastructure, the fan experience, and the communities the club supports. The vision of a bid is for Manchester United to be renowned for footballing excellence and regarded as the greatest football club in the world,” the consortium said.
Manchester United
Ineos is yet to release a statement, but it is understood the proposal would emphasize that Manchester-born Ratcliffe would be “a British custodian for the club” and would focus to “put the Manchester back into Manchester United”.
The Ineos group, owned by British billionaire Ratcliffe, has a history of sports investment and owns French Ligue 1 club Nice and Swiss club, Lausanne.
Its sporting portfolio includes the high-profile sailing team Ineos Britannia – led by Sir Ben Ainslie, aiming to win the 2024 America’s Cup for Great Britain.
Ineos has a five-year partnership with Formula 1 team Mercedes and took over the British-based Team Sky in cycling in 2019.
Described as a lifelong Manchester United follower, Sheikh Jassim is chairman of Qatari bank QIB and the son of an ex-prime minister of Qatar.
His consortium didn’t provide any information on the amount they proposed to purchase the club.
There are expected to be at least two offers for United from the US, while there have been suggestions of interest from Saudi Arabia.
This means there could be up to five parties trying to talk a full sale, with others looking to make a smaller investment in return for a partial stake in the twenty-time English league champions.
Paris St-Germain president Nasser al-Khelaifi is set to be a leading figure in any Qatari ownership bid if he had no direct involvement in the football club.
Qatar Sports Investment (QSI), headed by Al-Khelaifi, had been looking at the potential for taking a smaller stake in the Premier League club.
Because Uefa rules prevent multi-club ownership, any Qatari bid to buy United will have to come through private individuals and a different organization.
The prospect of Qatari investment in the Premier League club and two major European teams owned by the Gulf country has raised concerns among human rights and LGBTQ+ groups.
