One of Qatar’s largest bankers, Sheikh Jassim bin Hamad Al Thani, has confirmed that his foundation will submit a bid to acquire Manchester United. Before the soft deadline for proposals, Sir Jim Ratcliffe’s Ineos officially submitted a bid. As they investigate other strategic options, the Glazer family, who acquired United in 2005, is considering selling.
Sheikh Jassim’s Qatari consortium said that, the bid intends to return the club to its previous wonders. Through Sheikh Jassim’s Nine Two Foundation, the bid will be completely debt-free and aim to invest in the football teams, training facilities, stadium and other infrastructure, fan experience, and communities the club supports.
The goal of the bid is for Manchester United to be regarded as the world’s greatest football club and have a reputation for excellence in football. Although Ineos has yet to issue a statement, it is believed that the proposal will emphasize that Ratcliffe, who was born in Manchester, would serve as a British custodian for the club and strive to bring the Manchester back into Manchester United.
The British billionaire Ratcliffe, 70, owns the Ineos group, which has a long history of investing in sports and owns the French Ligue 1 club Nice and the Swiss club Lausanne. Sheikh Jassim is the chairperson of the Qatari bank known as QIB. He has been described as a lifelong Manchester United supporter. His consortium did not provide any specifics regarding the price they intended to pay for the club.
United is also expected to receive at least two offers from the United States, and Saudi Arabia has expressed an interest. This indicates that up to five parties may be attempting to negotiate a full sale, while others may be seeking a smaller investment in exchange for a partial stake in the English league champions, who have won the title 20 times.
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