Sheikh Jassim Bin Hamad Al Thani, the son of former Qatari prime minister Sheikh Hamad bin Jassim bin Jaber Al Thani, officially launched a bid to buy Premier League giants Manchester United on Friday.
Sheikh Jassim, who is the chairman of Qatar Islamic Bank and an alleged lifelong United fan since he was 10, leads a consortium that is ready to outbid others and also restore “Man Utd to its glory days”.
Sheikh Jassim Bin Hamad Al Thani bid in for 100% of Manchester United 🚨🔴 #MUFC
“The offer aims to restore the club to its former glory, both on and off the pitch, and will focus on putting fans back at the heart of Manchester United Football Club”.
Full statement ⤵️🚨 pic.twitter.com/c54Zuj1jwi
— Fabrizio Romano (@FabrizioRomano) February 17, 2023
The proposed takeover bid from Sheikh Jassim is reported to have shattered the previous record for the sale of a sports club, currently held by the Denver Broncos of the National Football League (NFL) at £3.75 billion.
The news of the record-breaking takeover bid was announced in a press release from his representatives.
“Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club,” his press release said.
“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.
“(It) 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 bid plans to return the club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United Football Club once more.
“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 statement concludes.
Likewise, INEOS chairman and Britain’s richest man, Sir James Ratcliffe, has also made his desire to buy the Old Trafford outfit known by sending in an official bid.
The 70-year-old is also a boyhood fan of the Manchester club, and according to reports, he hired Wall Street heavyweights JPMorgan and Goldman Sachs to advise him on his bid.
Ratcliffe is not a stranger in the sports world, as he owns French club Nice, Swiss football team FC Lausanne-Sport, and cycling franchise Team INEOS.
In August 2022, the British billionaire expressed his desire to purchase the 20-time English champions after his £4.25 billion bid for Chelsea was rejected.
BREAKING: Sir Jim Ratcliffe's Ineos group and Qatari Sheikh Jassim Bin Hamad Al Thani launched rival bids for Manchester United 💰 pic.twitter.com/F6L9OyR1D0
— Sky Sports News (@SkySportsNews) February 17, 2023
The bids came in before the 10pm (UK time) soft deadline set by the investment banking company, Raine Group, that the Glazer family has put in charge of the sale.
The Glazers family completed their takeover of the Red Devils in 2005, but they announced in November that they were open to a sale or investment after a series of deliberations.
