A Qatar-based bid for Manchester United was confirmed Friday, with Sheikh Jassim Bin Hamad Al Thani promising to rid the iconic soccer team of debt and return it to former glories.
Sheikh Jassim is the chairman of QIB, which is one of Qatar's leading banks, and has submitted a 100 per cent offer to buy out current owners the Glazer family.
After months of speculation and soaring share prices, initial offers need to be presented to merchant bank Raine Group, which is handling the sale of one of the most famous soccer teams in the world. While Friday is described as a soft deadline, Raine and the Glazers will have a clearer picture of potential buyers before moving on to the next stage of the process. The announcement from Sheikh Jassim comes after growing speculation about interest from the gas and oil rich Qatar.
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