THE Head of Qatar’s biggest bank has unveiled himself as the £4.5bn bidder to take control of Manchester United.
Sheikh Jassim Bin Hamad Al Thani, a member of the Gulf state’s ruling Royal Family, is aiming for a full buy-out of the Old Trafford club.
Man Utd could be set for a huge takeover, with a bid from Qatar now officialRex
Sheikh Jassim Bin Hamad Al Thani is behind the bidPA
AFPUnited’s co-chairman Joel Glazer and Avram Glazer revealed along with the rest of the family in November that they were open to selling up[/caption]
The 41-year-old, educated at the elite Sandhurst military academy in Berkshire and who claims to be a lifelong United fan, emerged as the man behind the previously secretive Qatari bid.
Sheikh Jassim, whose father Hamad is a former Prime Minister of Qatar, made his formal approach to United’s bid supervisors, the US-based Raine Group, ahead of last night’s 10pm “soft” deadline.
Britain’s richest man, Sir Jim Ratcliffe and his Ineos group are also understood to be in the contest along with Saudi and US-led consortia.
But the decision by the Qatari, chairman of the QIB bank which has assets of £42bn, to put his head above the parapet could be the most significant of all in the battle for United.
In a statement issued on his behalf by a senior London PR company, Sheikh Jassim said he planned to “return the Club to its former glories both on and off the pitch”.
The statement added: “Above all, the bid will seek to place the fans at the heart of Manchester United Football Club once more.”
While United fans have grown increasingly angry at the Glazer family piling debt on the club – they are known to want a repayment of the £660m owed to them – the potential Qatari owner is promising a very different strategy.
His PR group said: “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.
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“More details of the bid will be released, when appropriate, if and when the bid process develops.”
It is now up to Raine to take the next step which is expected to see a shortlist of bidders compiled as happened when the bankers eventually sold Chelsea on Roman Abramovich’s behalf to Tod Boehly’s group in the summer.
But Sheikh Jassim’s promise to invest in both the men’s and women’s team, rebuild Old Trafford, invest in community projects and give fans a voice will tick a huge number of boxes for United supporters.
AFPSeveral parties have expressed interest in buying the Red Devils[/caption]
Getty Images – GettySheikh Hamad bin Jassim bin Jaber Al Thani is involved in the bid to take over United[/caption] Read More