The Glazers put Premier League giants Manchester United on sale last year in November. Glazers, who own the NFL side Tampa Bay Buccaneers, announced in November 2022 that they are open to new investments or a complete sale. It came a few days after their arch-rivals Liverpool owners put the club on sale.
Recently, they set a deadline of February 17 for the bidders to make a bid. On the deadline day, United received two different bids. One bid comes from Qatar, while the other is from INEOS owner, British businessman Sir Jim Ratcliffe. Ratcliffe was the first to make his desire publicly to take over the club last month.
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Qatar responds to the deadline set by Manchester United owners
Qatari banker Sheikh Jassim bin Hamad Al Thani, chairman of Qatar Islamic Bank, confirmed his bid on Friday for the complete takeover of the Red Devils. Al Thani wants to bring the glory back to the club and will put zero debt on the club after the complete takeover.
Sheikh Jassim bin Hamad Al Thani, the chairman of
Qatar Islamic Bank, has confirmed his bid for #MUFC.Statement: "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 #MUFC once more…" pic.twitter.com/IreNBiT3SF
— Ben Jacobs (@JacobsBen) February 17, 2023
With this, Al Thani becomes the second bidder to go public over his desire to purchase United after Ratcliffe. The bid is via Al Thani’s Nine Two Foundation and doesn’t include the Qatar Investment Authority and Qatar Sports Investment (owners of French giants PSG). Al Thani studied in the UK, and the name of his foundation, Nine Two, coincides with a famous Class of 92 at United and the year (1992) when he became a United fan at 10.
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The statement from Al Thani, son of former Qatar Prime Minister, confirms he wants to take the club back to its glory days. He will make a sustainable investment in both men’s and women’s teams and focus on youth development. Al Thani is willing to go beyond soccer by investing in Old Trafford and the community. Meanwhile, the offer from Qatar has competition from a British businessman.
INEOS owner has already made his intention public last month
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Sir Jim Ratcliffe is another bidder for the club and is willing to add the Red Devils to his portfolio. He owns Ligue1 club OGC Nice and has a partnership with F1 team Mercedes. United will be a great addition to this portfolio for the boyhood Red Devils fan.
However, reports are that his valuation and bid are lower than that of Qatar. Although the bidding process has just started, only time will tell who will be the new owner of the United. They believe two more bidders from the US and one from Saudi Arabia can enter the race. It will be a roller coaster ride if that happens, and fans will hope they will have new owners for the club before the next season starts.
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Will there be a bidding war for the takeover of one of the biggest soccer clubs?
Written by
Edited by
Sreeda U M
