Qatari investors preparing imminent bid for Manchester United

LONDON – Qatari investors are preparing to make a bid to buy English Premier League club Manchester United “in the coming days”, Bloomberg reported on Monday (Feb 13), citing sources familiar with the deal.

The report added that the consortium will submit an initial bid for the club by the end of the week, and that officials from Qatar Sports Authority are helping with preparations for the bid.

Reuters has contacted Manchester United for comment.

Jim Ratcliffe’s company Ineos formally entered the bidding process to buy United in January after the club’s American owners, the Glazer family, said in November they had begun looking at options including new investment or a potential sale.

Earlier in February, the Daily Mail newspaper reported that Qatari investors are planning to make a huge bid to buy the Old Trafford club.

The Daily Mail report stated the interested investors are separate from Qatar Sports Investments, who owns French side Paris Saint-Germain, and that the money will come from an “individual fund” rather than a sovereign wealth fund.

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Sheikh Tamim bin Hamad Al Thani, the ruling emir of Qatar, is a Manchester United fan and unlikely to want to let slip the chance to own what is widely regarded as one of the world’s biggest sports brands. 

Adam Sommerfeld, a sport investment specialist at Certus Capital, has estimated that any offer for United would need to exceed £4 billion (S$6.45 billion) to be successful. That would make it one of the largest ever deals involving a sporting franchise.

United, managed by Erik ten Hag, are third in the league on 46 points after 23 games, two points behind Manchester City and five adrift of leaders Arsenal.