{"id":13594,"date":"2023-02-17T22:50:00","date_gmt":"2023-02-17T22:50:00","guid":{"rendered":"https:\/\/sports.runfyers.com\/index.php\/2023\/02\/17\/britains-richest-man-and-qatar-make-rival-offers-for-man-utd-in-8-75-billion-bidding-war\/"},"modified":"2023-02-17T22:50:00","modified_gmt":"2023-02-17T22:50:00","slug":"britains-richest-man-and-qatar-make-rival-offers-for-man-utd-in-8-75-billion-bidding-war","status":"publish","type":"post","link":"https:\/\/sports.runfyers.com\/index.php\/2023\/02\/17\/britains-richest-man-and-qatar-make-rival-offers-for-man-utd-in-8-75-billion-bidding-war\/","title":{"rendered":"Britain\u2019s richest man and Qatar make rival offers for Man Utd in $8.75 billion bidding war"},"content":{"rendered":"

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Rival bids have been officially launched to take over Manchester United in what looms as the most expensive purchase of a sporting club in history.<\/p>\n

Britain\u2019s richest man Sir Jim Ratcliffe, the founder of chemicals company INEOS, submitted a bid before a so-called \u2018soft\u2019 deadline of 9am AEDT today.<\/p>\n

That followed an announcement from Sheikh Jassim Bin Hamad Al Thani, chairman of Qatar Islamic Bank (QIB), that his Qatari consortium had submitted an offer to take over the Premier League giants.<\/p>\n

Other bids were expected \u2013 and could still happen after the deadline – including investors from the United States and Saudi Arabia.<\/p>\n

Current United owners the Glazer family are hoping to receive at least five billion pounds ($8.75bn AUD) for the club they took full control of in 2015. That would comfortably surpass Chelsea and NFL franchise the Denver Broncos – both sold in 2022 – as the richest takeover deal in sporting history.<\/p>\n

The billion-dollar battle for football supremacy is on as 17-year reign set to end<\/a>: Man Utd State of Play<\/b><\/p>\n

Watch the world\u2019s best footballers every week with beIN SPORTS on Kayo. LIVE coverage from Bundesliga, Ligue 1, Serie A, Carabao Cup, EFL & SPFL. New to Kayo? Start your free trial now ><\/a><\/b><\/i><\/p>\n

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Man City go top after 3-1 win vs Arsenal | 02:42<\/p>\n

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\u201cSheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club,\u201d his press release said.<\/p>\n

\u201cThe bid plans to return the club to its former glories both on and off the pitch, and \u2013 above all \u2013 will seek to place the fans at the heart of Manchester United Football Club once more.<\/p>\n

\u201cThe bid will be completely debt free via Sheikh Jassim\u2019s 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.<\/p>\n

\u201cThe 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.\u201d<\/p>\n

The statement did not give any details on the amount proposed in the bid for the club.<\/p>\n

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The iconic Old Trafford ground could be set for a rebuild.<\/span>Source: AFP<\/span><\/figcaption><\/figure>\n

Sheikh Al Thani is a lifelong United fan and the son of a former Prime Minister of Qatar, while his plan to buy the club without any debt comes in stark contrast to the controversial Glazer family, who have kept the club under millions of dollars of debt since their takeover between 2003 and 2005. United currently has debts running at more than $620 million USD.<\/p>\n

The Glazers had signalled they were open to both minority investment and a full takeover.<\/p>\n

But the latter now appears to be their preferred option, with American merchant bank Raine brought in to assist United in assessing offers.<\/p>\n

Ratcliffe had publicly expressed his interest in taking over the club last month, with the British billionaire having been borne in greater Manchester. <\/p>\n

Reports claim he will also offer a debt-free takeover, with any money borrowed to fund the deal being taken on by INEOS.<\/p>\n

A source told The Telegraph: \u201cHis aim is to be a long-term custodian of Manchester United and set the standard for a progressive approach to club ownership. As locally born, he wants to put the Manchester back into Manchester United.\u201d<\/p>\n

Ratcliffe already owns French first-division club Nice.<\/p>\n

MORE TO COME<\/p>\n<\/div>\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Rival bids have been officially launched to take over Manchester United in what looms as the most expensive purchase of a sporting club in history. Britain\u2019s richest man Sir Jim Ratcliffe, the founder of chemicals company INEOS, submitted a bid before a so-called \u2018soft\u2019 deadline of 9am AEDT today. That followed an announcement from Sheikh […]<\/p>\n","protected":false},"author":1,"featured_media":13595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[2228,1800,1641,547,4690,1437,4399,1429,4681,4015,4539,4688,4685,2884,1433,1415,2232,4682,1533,1809,1427,854,4686,4683,4684,4520,4687,4465,2457,2902,4689,1856,1792,1847],"class_list":{"0":"post-13594","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-home","8":"tag-agence-france-presse","9":"tag-america","10":"tag-asia","11":"tag-barcelona","12":"tag-bid-plans","13":"tag-efl-spfl","14":"tag-europa-league","15":"tag-europe","16":"tag-fan-experience","17":"tag-football-match","18":"tag-football-supremacy","19":"tag-football-teams","20":"tag-jassim-bin-hamad-al-thani","21":"tag-jim-ratcliffe","22":"tag-lega-calcio-serie-a","23":"tag-manchester-city-football-club","24":"tag-manchester-united-football-club","25":"tag-massive-bid","26":"tag-north-america","27":"tag-northern-america","28":"tag-northern-europe","29":"tag-premier-league","30":"tag-press-release","31":"tag-province-of-barcelona","32":"tag-qatar-islamic-bank","33":"tag-reign-set","34":"tag-sale-deadline","35":"tag-saudi-arabia","36":"tag-southern-europe","37":"tag-spain","38":"tag-takeover-bid","39":"tag-united-kingdom","40":"tag-united-states-of-america","41":"tag-western-asia"},"_links":{"self":[{"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/13594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=13594"}],"version-history":[{"count":0,"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/13594\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/13595"}],"wp:attachment":[{"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=13594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=13594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sports.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=13594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}