Glazers hope £6bn Qatari bid sparks Man Utd bidding war with Sir Jim Ratcliffe
Manchester United hope an expected £6billion offer from a Qatari consortium will spark a bidding war for the English giants.
A group of billionaire investors from the Middle East state look set to enter the bidding process for United, who were put up for sale in December. American owners the Glazers wanted an initial price of up to £10billion – but are open to negotiations.
And the Glazers believe an offer from the Qatari-backed group will force the hand of Sir Jim Ratcliffe and persuade him to make a rival bid. Ratcliffe, who is Britain's richest man and chief executive of the INEOS chemicals group, was first to declare his interest in purchasing United last month.
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Those behind the anticipated Qatari bid are said to be confident the Gulf State's ownership of French club Paris St Germain will not prove an obstacle in their pursuit of United.
Qatar Sports Investments (QSI) own PSG and under current regulations, the same group cannot own two clubs in the same competition, which could lead to a conflict of interest and compromise sporting integrity.
But the Qatari group looking to seize control of United are said to have their own funds to proceed with the purchase, rather than relying on QSI – the sovereign wealth of the state.
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The Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, is a lifelong United fan and has been advised in recent months by his financial consultants to consider investing in the area around Old Trafford.
The location is considered prime for such investment and the Sheikh has been alerted to the potential for development, in the same way Manchester City's Abu Dhabi owners have redeveloped the area around the Etihad Stadium.
Another proposal put to the Sheikh is the construction of a luxury five star hotel near Old Trafford, serving those who travel to games at the stadium, as well as the city of Manchester itself.
The Raine Group, who oversaw Todd Boehly's purchase of Chelsea in 2022, have been appointed by the Glazers to lead the sale of United and want a deal to be completed within the next few months.
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