Developments are reportedly taking place at pace at Manchester United regarding their sale. The Glazers had announced at the end of the last year that they are ready to give up the ownership as a result of a fan outrage against them and a full sale should be expected in coming months. American banking giants the Raine Group were handed the charge of overseeing a smooth and profitable sale, as formal bids are expected by the next week.
There was a sense of excitement among the United fans after rumours were in full swing that the oil-rich state of Qatar is heavily interested in staging a full-scale takeover of England’s biggest club. Qatar have already provided a show of their money muscle power at French giants PSG, turning the club from rags to riches since staging its full buyout in 2013. Transfer expert Fabrizio Romano has now turned the rumours into confirmation that Qatari investors have expressed interest in Manchester United.
Romano claims Qatari group have already contacted Glazers over a Manchester United takeover
The Glazers family, who own United since 2003, startled the football and business worlds in November by declaring that they were looking for ‘strategic alternatives’, with a potential consequence of a full sale of the club. The Americans are reportedly hoping to close any transaction by the end of March and have reportedly set a deadline for takeover offers of mid-February.
The only individual to officially declare that he has entered the bidding process for the Old Trafford club is British billionaire Sir Jim Ratcliffe, who is the owner of the petrochemical corporation Ineos. However, there have been rumours of interest from American VC firms, Middle Eastern oil-rich investors, and European consortiums during the past few months.
Fabrizio Romano now claims that a Qatari entity has reportedly expressed ‘concrete interest’ to join the Manchester United takeover. Private investors connected to the Qatari royal family are reportedly considering making a bid for the Premier League powerhouse, according to many reports. Romano told his YouTube channel:
“We can confirm that there is concrete interest from a Qatari group. It’s true. They are exploring the conditions of a Manchester United deal with the Glazers family, of course, with intermediaries and legal people to take care of the process. But they are exploring the conditions of this potential deal.”
Furthermore, Sky Sports asserted that investment bank The Raine Group approached Qatari investors to get to know more about their interest in purchasing Manchester United. Although the Qatar entity has expressed interest, the magazine Sky added that they will not overpay for the historic club.
According to reports, the Glazers are reportedly attempting to sell the team for £6 billion, which would be a record price for a sports franchise. However, according to the New York Stock Exchange, the club is worth £3.2 billion. The next few weeks are certainly going to be the most crucial ones Manchester United have ever witnessed as there’s massive possibility that the club gets new owners even before the season ends.