A Qatari consortium is close to acquiring the rights to Manchester United.
A group of investors with ties to the Qatari royal family is preparing a proposal by Friday, when the flexible deadline will be set. The consortium is not part of Qatar Sports Investments, which owns Paris Saint-Germain, although it is expected Nasser Al-Khelaifi, president of the French club, will be consulted. Qataris are confident their bid will outstrip that of competing groups, including the British businessman and United fan Sir Jim Ratcliff.
The Qataris enjoy the support of the sheikh Tamima bin Hamada Al Thani, the country’s emir, who is also said to be a United fan. The emir wants Qatar to capitalize on the success of last year’s first World Cup in the Middle East and invest in a Premier League team. Initially, Qatar’s proposal was thought to be for a small stake, but a full takeover bid now seems more likely.
The Glazer family, who have owned United since 2005, announced in November that they would sell all or at least part of the club. Raine Group, which is looking into potential offers, is also awaiting offers from Saudi Arabia and United States of America. Interested parties have until 10pm on Friday to submit a one-paragraph proposal, accompanied by proof of funds, although any subsequent proposals will also be considered.
The Glazers valued United at £6bn. The Americans have been in control of the club ever since Malcolm Glazer acquired a controlling stake in May 2005.
