Published 00:09 IST, February 9th 2023
Qatari investors making big plans for Manchester United takeover: Reports
The Emir already has another European giant, PSG, under his fold through Qatar Sports Investment and could be in for another blockbuster acquisition.
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The Emir of Qatar has reportedly expressed his interest in buying Manchester United. A £4.5 billion valuation has been mooted by the Emir which is much less than Glazer family's expected price of £6 billion. The Glazers has been at the helm of the club since their takeover in 2005.
Emir of Qatar interested in taking over Manchester United?
A potential sale of Manchester United hasn't been ruled out by the owners but an official bid is yet to be submitted. The Emir already has another European giants Paris Saint Germain under his fold through Qatar Sports Investment and could be in for another blockbuster acquisition to their portfolio.
However, if this sale is to happen, UEFA needs to tweak its rules as the existing rule doesn't allow two clubs having the same owners to face each other in any of the UEFA competitions. It is believed the Emir is aware of the UEFA rules and a solution could be on the cards allowing the governing body to change its regulation to drive the sale of the Red Devils.
Sir Jim Ratcliffe, who is one of the richest people in Britain, is also among potential buyers.
The process of a potential sale has already started as Raine group, who also orchestrated the Chelsea sale, has been appointed as the financial advisor for this process. United owners already put out a statement last year confirming their intention to attract outside investment for the club. "The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers," they had said.
“As we seek to continue building on the Club’s history of success, the Board has authorised a thorough evaluation of strategic alternatives.
"We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future. Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
United is currently valued at around £3.75 billion and the quoted price is much more than their valuation.
00:09 IST, February 9th 2023