qatari Bank Prepares Second United Bid
A second Qatari bid for Manchester United is imminent after Sheikh Jassim Bin Hamad Al Thani’s representatives visited the Premier League club on Thursday, according to Sky Sports News.
Sheikh Jassim, the Chairman of leading Qatari bank QIB, has already made an indicative offer before the soft deadline a month ago. But now all bidders have been asked to make a second bid in the next 10 days.
The report claims that a Qatari delegation travelled to Manchester from London and began discussions that were described as ‘positive and constructive’, with a focus on how their capital investment could impact ‘infrastructure, youth development and the women’s team.’
Shahzad Shahbaz, President of the Nine Two Foundation, an organisation created for the purpose of the bid, was part of the delegation that held talks with United officials and banking figures overseeing the potential sale of the club.
It is thought that Sheikh Jassim still considers it too early in negotiations for him to present himself.
Sky Sports News claims its sources in New York has stated that ‘there should be no doubt at all that Sheikh Jassim wants to be the owner and custodian of United’.
Ahead of its initial bid the Qatari consortium released a statement that said, “The bid plans to return the club to its former glories.
“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 to be renowned for footballing excellence and regarded as the greatest football club in the world.”
The only other known bidder for a full sale at this stage is Sir Jim Ratcliffe and his Ineos group. Figures from that offer are due at Old Trafford and Carrington on Friday (17th March).
The sale of Manchester United is being managed by the Raine Group, the US investment banking firm that oversaw the recent sale of Chelsea.
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