Qatari sheikh launches bid to buy Man United

3 months ago 46

11:29 PM GMT

  • Rob DawsonCorrespondent

Sheikh Jassim Bin Hamad Al Thani, the president of Qatar Islamic Bank, has launched a bid to bargain Manchester United, helium confirmed successful a connection Friday.

Qatar Islamic Bank's assets are estimated astatine much than £40 cardinal ($48bn) and Al Thani is the lad of erstwhile Qatar Prime Minister Hamad bin Jassim bin Jaber Al Thani.

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However, Al Thani -- who said helium is simply a United instrumentality -- bid beneath the club's valuation of £6bn acceptable by owners the Glazer family, sources told ESPN.

"Sheikh Jassim Bin Hamad Al Thani contiguous confirmed his submission of a bid for 100% of Manchester United Football Club," Al Thani's connection read.

"The bid plans to instrumentality the nine to its erstwhile glories some connected and disconnected the pitch, and -- supra each -- volition question to spot the fans astatine the bosom of Manchester United Football nine erstwhile more.

"The bid volition beryllium wholly indebtedness escaped via Sheikh Jassim's Nine Two Foundation, which volition look to put successful the shot teams, the grooming centre, the stadium and wider infrastructure, the instrumentality acquisition and the communities the nine supports.

"The imaginativeness of the bid is for Manchester United Football Club to beryllium renowned for footballing excellence, and regarded arsenic the top shot nine successful the world.

"More details of the bid volition beryllium released, erstwhile appropriate, if and erstwhile the bid process develops."

Al Thani is the 2nd idiosyncratic to corroborate his volition to bargain the Premier League club, after British billionaire Sir Jim Ratcliffe, president and CEO of chemic institution INEOS.

Ratcliffe besides submitted his bid to bargain United up of Friday's 10 p.m. UK (5 p.m. ET) brushed deadline for offers, sources told ESPN. The deadline was acceptable by Raine Group, the New York-based concern slope overseeing the process to either merchantability the nine oregon pull important caller investment.

A boyhood United instrumentality who made an connection to bargain Chelsea past year, Ratcliffe purchased French Ligue 1 squad Nice successful 2019. He is ranked arsenic Britain's richest person, with a reported worthy of £9.8bn.

The Glazers person owned United since 2005, erstwhile they completed a leveraged buyout, and person faced wide protagonist unrest implicit the past 18 years.

They revealed successful November that they are looking astatine "strategic alternatives" including extracurricular concern oregon a sale.

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