A consortium led by Qatari banker Sheikh Jassim Bin Hamad Al Thani submitted an offer to take full control of Manchester United on Friday, Feb. 17, along with a widely anticipated bid from British billionaire Jim Ratcliffe.
LONDON — A consortium led by Qatari banker Sheikh Jassim Bin Hamad Al Thani announced Friday, Feb. 17, that it had submitted an offer to take full control of Manchester United, with British billionaire Jim Ratcliffe also reported to have lodged a widely anticipated bid.
The statement from Sheikh Jassim, chairman of Qatar Islamic Bank , did not give any details on the amount proposed in the bid for United.That would be in contrast to the controversial 2005 leveraged takeover by the US-based Glazer family, the club’s current owners.
United shares rose by close to two percent in after-hours trading following the Qatari bid announcement. They had closed down 1.9 percent on Friday on the NYSE. Deeply unpopular with supporters since they saddled the club with huge debts in the £790 million 2005 takeover, the Glazers further angered fans by backing the failed European Super League project in 2021.
A consortium led by LA Dodgers co-owner Todd Boehly and private equity firm Clearlake Capital paid £2.5 billion for the Blues, with a further £1.75 billion promised in further investment in infrastructure and players.
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