Sheikh Jassim Bin Hamad Al Thani, the chairman of Qatari bank QIB, has announced he has submitted a bid to buy Manchester United.
The Sandhurst-educated Al Thani, who is chairman of Qatari bank QIB, joins Ineos founder Sir Jim Ratcliffe in seeking to acquire the club from the Glazer family, who have intimated their willingness to listen to offers.
Like Ratcliffe, Al Thani claims to be a boyhood fan of the club, and has indicated his bid would leave the club debt-free, in contrast to the Glazer family’s controversial leveraged buy-out in 2003.
A statement read: “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
“The bid plans to return the club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United Football Club once more.
“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 Raine Group was brought in to assist United in assessing offers, and the PA news agency understands Raine is looking to keep the process moving as quickly as possible, with the first quarter of the year recognised as a key time.
Prospective investors need to demonstrate seriousness in a swift process, leading to suggestions that United could even be under new ownership by the end of the 2022-23 season.
But prior to the Qatari announcement and with rumours of a potential rival bid from Saudi Arabia still circulating, Manchester United’s LGBTQ+ supporters’ group the Rainbow Devils raised “deep concern” regarding interest from nations where same-sex relationships are criminalised.
“Rainbow Devils believe any bidder seeking to buy Manchester United must commit to making football a sport for everyone, including LGBTQ+ supporters, players and staff,” the group posted on Twitter.
“We therefore have deep concern over some of the bids that are being made. We are watching the current process closely with this in mind.”
The Glazer family effectively made the club open for offers in November following a strategic review, raising hopes among supporters their…
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