Bidding for Manchester United: Qatar apparently submits a new purchase offer

Status: 03/22/2023 11:35 p.m

In the takeover battle for Manchester United, an investor from Qatar is apparently serious. According to English media reports, the Qataris submitted a new purchase offer shortly before the deadline.

As the “Guardian” reports, the deadline for takeover bids ended on Wednesday evening (March 22, 2023), 9 p.m. English time. Qatari Sheik Jassim bin Hamad Al Thani made a new offer to take over the Red Devils from the US entrepreneurial family Glazer, who still own Manchester United, before the deadline.

The Glazers, who have owned the club since 2005, put their majority stake up for sale through a US bank last November. As the Guardian further reported, so far there are offers from at least five interested parties on the table.

Betting between Qatar and Ineos

So far, only Jim Ratcliffe, head of the powerful Ineos Group and sponsor of the cycling stable of the same name, has made their interest public. And Sheikh Jassim bin Hamad Al Thani, head of the “Qatar Islamic Bank” and the son of the former emir. His ties to the Qatari government are correspondingly close. In addition, the sovereign wealth fund of Qatar holds shares in the Islamic Bank – the sovereign wealth fund that also owns Paris Saint-Germain through its subsidiary “Qatar Sports Investments”. is.

For the planned takeover, Sheikh Jassim had set up a foundation called “Nine Two Foundation” was founded – based on the legendary junior team of the Red Devils around David Beckham and Paul Scholes, who won their first title in 1992.

According to the Guardian, confidants of Sheikh Jassim were in Manchester last Thursday for so-called “due diligence” talks to clarify details for a possible takeover in advance. The meeting be “positive and constructive” been, it was said afterwards from the environment of Sheikh Jassim.

Ineos boss Ratcliffe is said to have been a guest at Old Trafford for talks on Friday. The entrepreneur, who has been a United fan since childhood, is considered by the fans to be the preferred candidate for the takeover.

Ratcliffe apparently followed suit again

In the competition for the Red Devils, however, Ratcliffe recently confirmed that there was a pain limit for him, even when it came to his favorite club. “It cannot be in our interest to pay completely insane sums. And then to regret it afterwards”, Ratcliffe told the Wall Street Journal. Apparently, Ratcliffe followed up shortly before the deadline, reported the AFP news agency.

Recently there have been reports that the Glazers have raised their asking price for the sale again, towards £6 billion. Ratcliffe Originally said to have offered the Glazers £4.5bn. His competitor from Qatar may have stepped up his game again.