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April 18, 2024
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Football News

Manchester United on sale & Qatar-linked investors to make bid very soon

Manchester United

Investors connected to the Qatari Royal Family are reportedly planning to make a buyout offer for Manchester United this week. The Glazer family has controlled the Red Devils since 2005.

But a statement from the team near the end of last year indicated that they intended to investigate “strategic alternatives”

This might result in the club being sold by the end of this year. Potential purchasers currently are from the USA, the Middle East, and Asia. They are said to have expressed “significant interest” in buying Man United.

A statement read:

“Manchester United plc (NYSE:MANU), 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 capitalize 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.”

What reports say on Manchester United sale?

According to a recent allegation, investors with headquarters in Qatar were preparing a takeover bid for the 20-time English champions. Now, according to Sky Sports News, although a final decision has not yet been taken, investors connected to the Qatari Royal Family are anticipated to submit a formal acquisition bid before the end of this week.

The Qatari businessmen were called at the end of last year to discuss their interest in purchasing the club. While sources claims that Sheikh Tamim bin Hamad Al-Thani, the ruler of Qatar, is a fan of Manchester United.

According to Sky Sports News, Man United may get “at least four serious proposals” for the team the following week, with INEOS owner and Manchester-native Sir Jim Ratcliffe expected to make one of those offers.

The 70-year-old made his interest in purchasing the Red Devils known in the public at the start of this year. He already owns Nice of the Ligue 1 and FC Lausanne-Sport of the Swiss Super League.

A potential sale of Man United will be overseen by Investment bank The Raine Group, who previously worked on Roman Abramovich’s sale of Chelsea. Potential buyers are reportedly being encouraged to submit their offers by the “soft deadline” of this Friday.

The Glazers are reportedly trying to sell Man United for at least £5 billion ($6.6 billion), which is a significant premium above the company’s $3 billion ($3.67 billion) valuation on the New York stock exchange.

With two more games played, Erik ten Hag’s team is presently third in the Premier League standings, five points behind league-leading Arsenal, and seven points ahead of Tottenham Hotspur in fifth.

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