Reports in the UK media indicate that Sheikh Jassim from Qatar has offered a world-record sum of $6.2B to acquire complete ownership of the English Premier League team Manchester United (Man Utd).
This bid, which surpasses the previous sports club record of $6M paid for the NFL’s Washington Commanders, was submitted before the deadline for bids from potential buyers.
Sir Jim Ratcliffe, the owner of UK chemicals company INEOS and a competing bidder, also submitted a revised offer to invest in the club. However, the Qatar bid falls short of the $7.5B sought by the current owners, the Glazer family, according to Arabian Business.
Sheikh Jassim’s bid aims to gain full control of the club with a 100% purchase agreement, while Ratcliffe is looking to acquire just over 50% of the club, leaving some share with the Glazer family. This ongoing saga began when Manchester United was put up for sale in November of last year.
A statement from Manchester United at the time said: “Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club”.
“The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.”
“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.”
“This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders”
There is reportedly great anticipation among Man Utd fans for the potential sale to Qatar, as the bid is rumored to include a commitment to making significant investments in the team and enhancing the club’s infrastructure. This includes upgrades to the renowned Old Trafford Stadium and the surrounding vicinity.
