The Qataris’ opening offer could value United at about £5 billion (RM26.7bil).
Jassim bin Hamad bin Jaber Al Thani, the chairman of Qatar Islamic Bank and son of the country’s former prime minister, confirmed his bid to acquire the English Premier League club in an emailed statement Friday.
The debt-free offer includes investment in the team, training center and stadium, and will be made via Sheikh Jassim’s Nine Two Foundation. The amount of the offer wasn’t disclosed in the statement.Initial bids for the club are due Friday. The Qatari offer is set to face competition from British billionaire Jim Ratcliffe, a Manchester United fan who’s already lined up financing from banks including Goldman Sachs Group Inc. The Telegraph reported Friday that Ratcliffe had submitted his proposal.
A deal for Manchester United could represent the biggest takeover of a professional sports club on record, potentially surpassing the US$4.65 billion paid last year by a group led by Walmart Inc. heir Rob Walton for the Denver Broncos NFL team. If successful, Sheikh Jassim’s group might have to persuade UEFA that it is sufficiently independent from QSI for PSG and Manchester United to play in the same European competition.
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