Qatari investors linked to the country's royal family could make bid for Manchester United; the investors have registered their interest with the Raine Group, who want bids in by next week; Glazer family announced in November they are open to selling the club or seek new investors
Friday 10 February 2023 18:45, UK
Private investors linked to the Qatari royal family are considering making a bid to buy Manchester United, one of four "serious" bids expected next week.
The investors were contacted to see if they would be interested in buying United and have now registered their interest with the Raine Group, the investment bank who are marketing the sale of the club.
Raine have asked for bids to be submitted by the end of next week and at least four serious bids are expected.
There are likely to be bids from Sir Jim Ratcliffe, USA and Saudi Arabia, alongside Qatari investors.
Ratcliffe is working with JP Morgan and Goldman Sachs. JP Morgan worked with the Glazers when they bought United in a £790m leveraged buyout in 2005. Ed Woodward was at JP Morgan at the time and worked on the deal.
Although the Qatari investors are interested, they will not overpay for the club. The Glazers are believed to be looking for a sale price of £6bn, with the club valued at £3.2bn on the New York Stock Exchange.
United shares were up almost nine per cent on Thursday and closed at near record high of $25.39, valuing the company at $4.18bn. The share price has doubled since Glazers effectively put the club up for sale in November.
Qatar has made no secret of the fact it wants to invest in more sports to build on what it sees as the success of the World Cup.
The investors involved in the United process are not Paris Saint-Germain owners Qatar Sports Investments.
JP Morgan and Goldman Sachs are also prepared to provide financing to cover Manchester United's existing £660m debt if Ratcliffe decides to bid for the club. United have lost £230m over past three years.
JP Morgan was a major backer of the European Super League project 18 months ago.
Goldman Sachs are also advising Liverpool along with Morgan Stanley as the club's owners look to sell some or all of their shares.
Sky Sports News chief reporter Kaveh Solhekol:
"It's been well reported that the Glazer family are looking for a sale price of £6bn, I don't think these Qatari investors will be willing to pay anywhere near that.
"A bid is in the balance at the moment. I've been trying to find out whether a bid will definitely go in: I've been told that it's a possibility.
"I'm also being told that it's important to remember that these Qatari investors were approached about making a bid for United. So I don't think they themselves have made the running and thought: This is a deal we have to do.
"So I would be a little bit cautious about whether a bid actually materialises.
"It would be very controversial if Qatar was to own a Premier League football club. We all saw what happened with the World Cup and the controversy that surrounded the human rights, worker rights, LGBTQ+ rights - there would be big concerns.
"But some Manchester United fans would also be very excited at the prospect of being owned by Qatar investors. They would imagine how much money would be spent on the club, on the infrastructure and in the transfer market.
"UEFA rules say that two clubs cannot play in the Champions League if they have the same owner. In this case, there's a way round it as PSG are owned by Qatar Sports Investments and they are not the party who are interested in buying Man Utd."
An imminent Qatari bid for Manchester United should be a "wake-up call" to the Premier League to strengthen its ownership rules, Amnesty International has warned.
"Coming in the wake of the World Cup and strenuous efforts from the Qatari government to fashion a glitzy new image for the country, it seems highly likely that any Qatari bid for Manchester United would be a continuation of this state-backed sportswashing project," Peter Frankental, Amnesty UK's economic affairs director, told the PA news agency.
"We saw only limited reforms on migrant workers' rights in Qatar in the lead-up to the World Cup, and there's been no movement whatsoever in ending the disgraceful criminalisation of LGBTQ+ people or institutional discrimination against women.
"It's been nearly 18 months since the hugely controversial Saudi takeover of Newcastle United and a Qatari bid for Manchester United would be yet another wake-up call to the Premier League over the need to reform its ownership rules.
"We're not necessarily opposed to the involvement of state-linked overseas financial consortia in English football, but the Premier League must urgently strengthen ownership rules to ensure they're human rights-compliant and not an opportunity for more sportswashing."
Sky Sports' Gary Neville:
"The main thing is that the Glazers leave as soon as possible. The second thing is that the club needs to be now in good hands and with someone who has feelings for the club.
"Sir Jim Ratcliffe was born in Manchester and knows the area. If he wins it, there will be a lot of happy Manchester United fans as I think he'll want to do the right thing by the club.
"Beyond the Glazers leaving, I don't think United can afford to be with another investment fund where they're expecting a return on the money. That's what worries me about private equity coming into football.
"People are still looking for a return on their money and a return on their investment. Manchester United need a debt-free football club with someone who is willing to put money into it.
"The problem is the price they're going to have to pay for it is going to be big so you're going to have to have deep pockets. I don't know if Sir Jim is going to be able to bring people in with him, but I'm hopeful that can happen.
"There could be any number of buyers - it won't just be Sir Jim bidding. I'd like to see criteria set for what a new Manchester United owner looks like.
"They have to be debt-free and make sure they invest in the facilities, the infrastructure, the training ground, the stadium.
"Making sure they put money into the football project, the fan experience and fan involvement: they're really important things as part of a manifesto that the Glazers haven't been transparent about.
"I just hope the highest bidder sees this as more than something they can flip in three years for a billion more.
"The priority for the new owners has to be winning. A winning Manchester United is difficult to stop - we've seen that in the past.
"With significant investment, the club then can become dangerous as a force again. The priority has to always be football performance and then you talk about fan experience. The stadium and the facilities have to be world class again."
