Paris Saint-Germain is owned by Qatar Sports Investments, which has no involvement in Sheikh Jassim’s private bid nor foundation.
Qatar’s Sheikh Jassim Bin Hamad bin Jaber Al Thani confirmed his submission of a bid for 100 percent ownership of Manchester United Football Club, a statement revealed.
Sheikh Jassim’s Nine Two Foundation is prepared to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.
The statement details “plans to return the club to its former glories both on and off the pitch”.
The bid also seeks “to place the fans at the heart of Manchester United Football Club once more, the statement added, noting “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.”
Sheikh Jassim is a life long Manchester United fan and is the current Chairman of QIB, one of the leading banks in Qatar. Sheikh Jassim is the son of former Prime Minister Hamad bin Jassim bin Jaber Al Thani. Previously, he was also a board member of Credit Suisse Group AG and Credit Suisse AG, Zurich.
More details of the bid is expected to be released if and when the bid process develops, the statement added.
The World Cup 2022, held in Qatar late last year, was in full swing when news broke that Manchester United is formally looking to sell, though it remains unclear if it’s a majority or minority ownership of the club.
The Glazers are asking for at least £5 billion to sell Manchester United, which would be a record price for any sports team. The announcement on Friday falls in line with a deadline for bids set by the Premier League club.
The latest announcement means the Qatari sheikh will now go up against British billionaire Sir Jim Ratcliffe who confirmed his interest in purchasing the club last month.
News of a potential Qatari takeover of the club had raised eyebrows over whether it could violate UEFA rules due to Qatar’s ownership of Paris Saint-Germain.
However, the French giants are owned by Qatar Sports Investments, which has no involvement in Sheikh Jassim’s private bid nor foundation.