Qatari banker Sheikh Jassim Bin Hamad Al Thani confirms Manchester United bid
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Updated 17/02/2023 at 21:45 GMT
Manchester United will be subject of a takeover bid by a Qatari consortium led by the chairman of Qatar bank QIB, Sheikh Jassim Bin Hamad Al Thani. The submission of an offer for "100 per cent" of the club was confirmed ahead of a Friday night deadline set by investment bankers The Raine Group, who are overseeing any potential takeover.
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Sheikh Jassim Bin Hamad Al Thani, the chairman of Qatar bank QIB, has confirmed a bid to buy Manchester United.
The Premier League giants had been put up for sale by current owners the Glazer family in November who announced they were "exploring strategic alternatives" to their ownership.
Businessman Sir Jim Ratcliffe was first to formally declare his interest in purchasing the club in January.
A statement for the Qatari consortium read: "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."
Sheikh Jassim is chairman of Qatari bank QIB and the son of a former prime minister of Qatar.
US bankers The Raine Group, who are potentially overseeing the sale of the club, had asked for any initial bids to be made by 10pm UK time on Friday February 17.
Although there are no details of how much the Qatari consortium have bid for the club, the Glazers are said to be looking for around £5 billion for a full sale.
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