Qatar-linked investors to make bid for Manchester United this week
Manchester United are reportedly likely to receive a takeover bid from investors linked to the Qatari Royal Family this week.
The Red Devils have been owned by the Glazer family since 2005, but a statement from the club towards the end of last year revealed that they plan to explore “strategic alternatives” that could lead to a possible sale of the club.
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.”
The sale of Man United is understood to have attracted ‘considerable interest’ from potential buyers in the USA, the Middle East and Asia.
A recent report claims that that Qatari-based investors were readying a takeover offer for the 20-time English top-flight champions.
Now, Sky Sports News reports that investors linked to the Qatari Royal Family are expected to make a formal takeover bid before the end of this week, although a definite decision is yet to have been made.
The report adds that the ruler of Qatar, Sheikh Tamim bin Hamad Al-Thani, is said to be a Man United supporter, and the Qatari investors were contacted at the end of last year to discuss their interest in buying the club.
Sky Sports News also states that ‘at least four serious bids’ for Man United could be received by the club next week, with one of those offers set to be made by Manchester-born billionaire and INEOS owner Sir Jim Ratcliffe.
The 70-year-old, who also owns Ligue 1 side Nice and Swiss Super League outfit FC Lausanne-Sport, publicly expressed his interest in buying the Red Devils at the beginning of this year.
Investment bank The Raine Group, who previously dealt with Roman Abramovich’s sale of Chelsea, are Man United’s exclusive financial advisor who will oversee a potential sale of the club, and interested parties have allegedly been asked to submit their offers by the ‘soft deadline’ of this Friday.
The Glazers are believed to be looking to sell Man United for a price of at least £5bn ($6.6bn), a figure considerably higher than the New York stock market’s valuation of £3bn ($3.67bn).
Erik ten Hag’s side currently sit third in the Premier League table, five points behind leaders Arsenal having played two games more, while they are seven points clear of Tottenham Hotspur in fifth place.
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