According to sources with knowledge of the matter, a group of Qatari investors, led by former Prime Minister Hamad bin Jassim bin Jaber Al Thani and supported by the Qatar Investment Authority (QIA), are preparing to make a $6B (£5B) opening bid for Manchester United Plc, as reported by Bloomberg.
The consortium is said to be finalizing a proposal to purchase the English Premier League club from its current owners, the US-based Glazer family, with the potential acquisition being the largest takeover of a professional sports club on record.
Jim Ratcliffe, a British billionaire, has also lined up financing for his own bid, potentially providing competition for the Qatari group. The Glazer family, who have been subject to takeover speculation since Bloomberg reported in the summer that they were open to selling a stake, are being advised by New York bank Raine Group.
Although Manchester United has won a record 13 Premier League titles and attracted some of the biggest stars in the game, including Cristiano Ronaldo and Paul Pogba, it has faced increasing competition from Manchester City, who have won multiple honors since being taken over by Abu Dhabi investors in 2008.
However, a potential Qatari bid could face complications due to the fact that Qatar Sports Investments, a state-backed entity separate from QIA, already owns French super-club Paris Saint-Germain (PSG).
UEFA regulations stipulate that teams with the same majority owner cannot both compete in the region’s major tournaments, including the Champions League. The outcome of the ongoing deliberations remains to be seen, but it is evident that Manchester United is highly sought-after, with potential suitors from across the globe.
