February 18, (THEWILL) – Qatar bank QIB’s chairman, Sheikh Jassim Bin Hamad Al Thani, has announced a bid to purchase Manchester United, confirming the intention of the Glazer family to sell the English Premier League team.
The family had announced in November that they were exploring strategic alternatives to their ownership of the team. Businessman, Sir Jim Ratcliffe, had earlier declared his interest in purchasing the club in January.
In a statement, the Qatari consortium said: “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.”
The Glazers are reportedly looking for around £5 billion for the sale of the club, although there are no details of the Qatari consortium’s bid. The Raine Group, a US-based investment bank, is overseeing the sale of the club and had set the deadline for initial bids to be made by 10 pm UK time on Friday, February 17.
Further details of the bid will be released as the bid process develops.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
