A group of Qatari investors are set to lodge a mammoth takeover bid for Man Utd ahead of the mid-February deadline that has been set by the Glazer family
A group of Qatari investors are expected to launch a blockbuster takeover bid for Man Utd ‘in days’, according to reports, and are ready to provide Erik ten Hag with significant financial backing to take the club back to the top.
The Glazer family, who announced back in November that they were open to selling the club, have set a mid-February deadline for interested parties to lodge bids for United.
To date, only INEOS chief and lifelong Man Utd fan Sir Jim Ratcliffe has gone public with his interest in the club. However, a fresh report from the Daily Mail claims that a group of private, wealthy individuals based in Qatar are ready to firm up their interest with a substantial offer which they believe will ‘blow the competition out of the water’.
The report goes on to outline that the group would have no problem meeting the Glazers’ demands, which are estimated to exceed £6billion. As well as backing Ten Hag in the transfer market, the investors are also planning to make fan engagement an integral part of their bid and they may decide to consult with United fans over the future of Old Trafford, which is in desperate need of renovations or a redevelopment costing up to £2bn.
It is claimed that the interested party is made up of individual Qatari investors who are ready to use the knowledge they gained from hosting last year’s World Cup to drive a new project at a club they view as ‘football’s crown jewels’.
Qatar Sports Investments’ holding in Paris Saint-Germain could, however, pose a potential problem for any bid, with rules and regulations stating that one establishment cannot own more than one club in the same competition, which would apply if United and PSG were to meet in the Champions League.
Any deal would also need to be ratified by the Premier League – and there is also expected to be competition other than Ratcliffe present once the Glazers’ deadline for bids has passed.
A group of Qatari investors are reportedly ready to launch a bid to purchase Man Utd from the Glazer family ( Image: PA)
US bank The Raine Group, which is brokering the sale of the club and also oversaw Todd Boehly and Clearlake Capital’s purchase of Chelsea last year, has already been sharing financial information with interested parties.
If a money-spinning takeover does come to fruition, then a significant injection of funds would boost Ten Hag ahead of the summer transfer window, with the Dutchman expected to be in the market for a new No.9.
After spending in excess of £200million last summer, United cut their cloth accordingly in the January transfer window and signed Burnley striker Wout Weghorst on loan as a stop-gap replacement for Cristiano Ronaldo, who left the club in November. Tottenham talisman Harry Kane and Napoli striker Victor Osimhen have emerged as transfer targets in recent weeks, with either likely to cost in the region of £100m.
source: www.mirror.co.uk
