Qatari-led consortium confirms bid for Manchester United

A consortium led by Sheikh Jassim bin Hamad Al Thani, chairman of Qatar Islamic Bank, announced on Friday that it had submitted an offer to take over English Premier League club Manchester United.

Sheikh Jassim joins Ineos founder Sir Jim Ratcliffe in seeking to acquire the club from the Glazer family.

Like Sir Jim, he claims to be a boyhood fan of the club and has indicated his bid would leave the club debt free, in contrast to the Glazer family’s controversial leveraged buyout in 2003.

“Sheikh Jassim bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club,” a statement read.

The statement did not give details on the amount proposed in the bid for the club but the price could reach a record €6 billion, reports say.

“More details of the bid will be released, when appropriate, if and when the bid process develops,” said the statement, which added that the bid “will be completely debt free”.

“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 statement read.

Fans protest against the Manchester United owners in August. PA

“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.”

The American Glazer family completed their takeover of the 20-time English champions in 2005, and announced in