Sheikh Jassim bin Hamad Al Thani, chairman of one of Qatar’s largest banks, has confirmed that his foundation will make a bid to buy Manchester United.
JEE News understands that Ineos, which is owned by Sir Jim Ratcliffe, also officially bid for proposals ahead of Friday’s ‘soft deadline’ of 22:00 GMT.
Billionaire Ratcliffe had already expressed his interest in buying United.
The Glazer family, which bought United in 2005, are considering a sale as they “look for strategic alternatives”.
Sheikh Jassim’s Qatari consortium said: “The bid aims to return the club to its former glory.
“The bid will be completely debt-free through Sheikh Jassim’s Nine Two Foundation, which will invest in the football teams, training centre, stadium and wider infrastructure, fan experience and communities that support the club.
“Bolly’s vision is for Manchester United to be renowned for their footballing prowess, and to be regarded as the greatest football club in the world.”
Ineos has not yet issued a statement, but it is understood the proposal will emphasize that Manchester-born Ratcliffe will be the “British custodian for the club” and “return Manchester to Manchester United”. “Put” will be the objective.
Ineos Group, owned by British billionaire Ratcliffe, 70, has a history of investing in sports and owns French Ligue 1 club Nice and Swiss club Lausanne.
Its sports portfolio also includes the high-profile sailing team Ineos Britannia – led by Sir Ben Ainsley – aiming to win the 2024 America’s Cup for Great Britain.
Ineos also has a five-year partnership with Formula 1 team Mercedes and took over UK-based Team Sky in cycling in 2019.
Described as a lifelong Manchester United fan, Sheikh Jassim is the chairman of Qatari bank QIB and the son of Qatar’s former prime minister.
His consortium did not provide any details on the amount they proposed to buy the club.
At least two offers for United are expected from the United States, while suggestions of interest from Saudi Arabia have also emerged.
That means there could be as many as five parties trying to negotiate a full sale, with others looking to make smaller investments in return for a fractional stake in the 20-time English league champions.
Paris Saint-Germain president Nasser Al-Khalifi would be a key figure in any Qatari ownership bid, even if he is not directly involved in the club.
Qatar Sports Investment (QSI), headed by Al-Khalifi, was looking at the possibility of taking a small stake in the Premier League club.
However, due to UEFA rules preventing multi-club ownership, any Qatari bid to buy United outright would have to come from private individuals or a different organisation.
The prospect of Qatari investment in Premier League clubs – and two major European teams owned by the Gulf nation – has raised concerns among human rights and LGBTQ+ groups.
