MANCHESTER, England: A Qatar-based bid for Manchester United was confirmed Friday, with Sheikh Jassim Bin Hamad Al Thani promising to rid the iconic soccer team of debt and return it to former glories.
Sheikh Jassim is the chairman of QIB, which is one of Qatar’s leading banks, and has submitted a 100 percent offer to buy out current owners the Glazer family.
“The bid will be completely debt free via Sheikh Jassim’s Nine Two Foundation, which will look to invest in the football teams, the training center, the stadium and wider infrastructure, the fan experience and the communities the club supports,” a statement said.
“The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.”
It did not mention what the bid would be.
Friday is the final day for serious contenders to step forward in the race to buy United.
After months of speculation and soaring share prices, initial offers need to be presented to merchant bank Raine Group, which is handling the sale of one of the most famous soccer teams in the world.
By the end of the day, the Glazers will have an idea of how much they can expect to make on the club they bought for about $1.4 billion in 2005.
The price is now estimated to reach as high as $6 billion, with reported interest from other parties seeing its value rise sharply as the deadline for bids approaches.
While Friday is described as a soft deadline, Raine and the Glazers will have a clearer picture of potential buyers before moving on to the next stage of the process. The announcement from Sheikh Jassim comes after growing speculation about interest from the gas and oil rich Qatar.
Previously only British billionaire Jim Ratcliffe had publicly confirmed his intention to bid for the club he has supported from childhood.
Along with Qatar, rumors persist that Elon Musk could be among a list of potential buyers from the United States.
Ratcliffe, the owner of petrochemicals giant INEOS, announced his intention to bid last month. That is a shift in strategy from last year when he launched a last-minute bid for Chelsea, but was not considered because he missed the deadline set by Raine, which also handled that sale.
Ratcliffe, who currently owns French club Nice, said last year that he had no interest in another bid for a Premier League club after missing out on Chelsea and receiving little encouragement from the Glazers for United. But he would be a popular choice among fans because of his longstanding support of the club.
Several Americans bid last year to buy Chelsea, with Todd Boehly and Clearlake Capital eventually paying $3 billion for the London club. Rival bids came from Chicago Cubs owner the Ricketts family, Boston Celtics part-owner Steve Pagliuca and New York Jets owner Woody Johnson.
No American bids for United have been made public, unless you consider a Twitter post from Musk.
The CEO of Tesla, Twitter and SpaceX wrote “I’m buying Manchester United ur welcome” last August. And although he then pointed out it was a “long-running joke on Twitter,” rumors of a bid have not gone away.
Qatar-based bid for Man United confirmed on deadline day
https://arab.news/r9y2m
Qatar-based bid for Man United confirmed on deadline day
- “The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world”
- Friday is the final day for serious contenders to step forward in the race to buy United
Real Madrid lose second straight and miss chance to close gap on Liga leader Barcelona
- Getafe held on to secure a historic win, its first at the Santiago Bernabeu since 2008, and a vital three points in its bid to stay in La Liga
MADRID: Real Madrid lost a second straight La Liga match when a stunning volley from Martín Satriano gave Getafe a shock 1-0 win at Santiago Bernabeu Stadium on Monday.
The result prevented the capital club from cutting the four-point gap to leader Barcelona.
Getafe had lost all eight of its previous league encounters with Real Madrid and early saves from goalkeeper David Soria kept it from falling behind.
Soria turned over a shot from Arda Güler midway through the first half, not long after frustrating Vinicius Junior when he was through on goal.
Madrid had more of the ball but lacked punch up front and it paid a price for its profligacy six minutes before halftime when Getafe took the lead.
A hopeful cross from the right was headed clear but it fell to the feet of Satriano, who volleyed into the roof of the net from 20 meters out.
It was the second goal in three games for the Uruguayan, who joined on loan from Lyon during the last transfer window.
Madrid continued to dominate possession in the second half and Antonio Rüdiger and substitute Rodrygo were among those who came close to grabbing an equalizer.
But it could not find a way past Getafe’s stuffy rearguard and an in-form Soria.
Madrid’s task became even harder when Franco Mastantuono was sent off for dissent in stoppage time and although the numbers were evened up in the last minute when Getafe’s Adrian Liso was also shown a red card it came too late to make any impact.
Getafe held on to secure a historic win, its first at the Santiago Bernabeu since 2008, and a vital three points in its bid to stay in La Liga.
“Coming here is always very difficult,” Getafe defender Kiko Femenía told broadcaster DAZN. “We have to congratulate the team, we did a superb job at the back and we scored when had the chance. We might even have scored more on the counterattack.”
They jumped three league places into 11th and were eight points above the relegation zone.
