Qatari bid for Man Utd CONFIRMED as 10pm takeover deadline looms

Suraj Radia

• Updated: 23 May 2023 09:09 CDT
• 2 min read

A bid from Qatar looking to take complete control of Manchester United has officially been submitted ahead of the club’s deadline for proposals.

Investors have been told to make their offers by the end of the New York Stock Exchange’s trading hours (5pm local, 10pm GMT) on Friday, however bids made past the ‘soft deadline’ will still be considered as part of United’s responsibility as a publicly traded company.

Offers from all over the world are expected to be submitted, however they will be considered by the Raine Group, the US bank acting on behalf of the Glazers, before the owners make a decision, meaning official confirmation of bids is not expected from the club’s side.

However, Sheikh Jassim Bin Hamad Al Thani, the chairman of Qatari bank QIB, has confirmed that a bid has been submitted by his company for total control of United.

A statement from Sheikh Jassim said: “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.

“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.”

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The Glazer family are seeking external investment which could result in a complete sale, although offers asking for partial equity and commercial opportunities will also be considered, with the additional possibility of multiple buyers combining bids into a consortium.

United’s share price has dramatically risen since the club’s initial announcement in November and its valuation is currently around £3bn, however the Glazers are hoping for offers in excess of £6 billion, with bids likely to start at £4bn.

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The richest man in Britain, Sir Jim Ratcliffe, is among those expected to make an offer before the 10pm deadline, while bids from the USA, Saudi Arabia and other Asian investors are also believed to be in the works.

United boss Erik ten Hag admitted his players are keeping track of the story, saying: “'We are following it – it's our club. Of course, we are committed but we are focusing on football, on training and our way of play, and games.”