Qatar consortium confirms bid for total control of Manchester United

A consortium led by Sheikh Jassim bin Hamad Al Thani, chairman of the Qatar Islamic Bank (QIB), announced on Friday that it has made an offer to take over English Premier League club Manchester United. The American Glazer family, who completed the takeover of the 20-time English champions in 2005, announced in November that they were open to sale or investment. British billionaire Jim Ratcliffe’s Ineos company officially entered the race to buy the club last month – the only bidder to publicly declare interest so far.

“Sheikh Jassim bin Hamad Al Thani today confirmed the submission of a 100 percent bid for Manchester United Football Club,” their press release said.

The statement gave no details of the amount proposed in the bid for the club but reports suggest the price could reach a record six billion euros.

“More details of the bid, when appropriate, will be released as the bidding process develops,” the statement said, adding that the bid will be “completely debt-free” through Sheikh Jassim’s Nine Two Foundation.

“[It]will seek to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities that support the club.

“The bid plans to bring the club back to its former glory on and off the pitch, and – above all – will seek to establish fans of Manchester United Football Club once again.

“The vision of the bid is for Manchester United Football Club to be renowned for its footballing excellence, and regarded as the greatest football club in the world.

The American Glazer family, who completed the takeover of the 20-time English champions in 2005, announced in November that they were open to sale or investment.

(This story has not been edited by NDTV staff and was auto-generated from a syndicated feed.)

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