Qatari Investors, Sir Ratcliffe In Bidding War For Man United

Before the deadline on Friday, both Sir Jim Ratcliffe’s INEOS and Qatari Investors Sheikh Jassim Bin Hamad Al Thani and INEOS submitted offers to purchase Manchester United.

The chairman of one of Qatar’s banks, QIB, Bin Hamad Al Thani, announced in a statement that he intended to purchase Manchester United.

READ ALSO: Turkey Earthquake: Ghana Football Star Christian Atsu Found Dead, Confirms Agent

He claimed to have made a “substantial” offer to purchase the team and to want to bring United back to their “former glory,” with the bid having no debt and all proceeds going back into the neighborhood through the 92 foundation.

Initial offers to purchase United must be submitted to The Raine Group by 10 p.m. on February 17. IENOS, the investment company owned by British billionaire Sir Jim Ratcliffe, has also made a formal entry, according to a late-Friday night announcement from The Athletic.

“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 centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.

“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. More details of the bid will be released, when appropriate, if and when the bid process develops.”

The purchase procedure will take some time, and any potential owners will have to pass a demanding test from the Premier League and UEFA. But, the team’s next game is against Leicester City at Old Trafford on Sunday.