Qatar Delegation Visits Manchester United for Potential Bid Discussions: Reports Confirm
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Manchester United's ownership drama is heating up as Qatari investors are throwing their hats into the ring. The Glazer family, notorious for owning the iconic soccer club, announced in November they were considering selling, kickstarting a bidding war.
Sheikh Jassim Bin Hamad Al Thani, a wealthy Qatari businessman, and Jim Ratcliffe, British billionaire and founder of INEOS, are two frontrunners in this high-stakes game.
On Thursday, a delegation from the Qatari lender paid a visit to Old Trafford. Though Sheikh Jassim didn't make the trip himself, his emissaries were present, receiving presentations and engaging in discussions at the club's training ground.
Shahzad Shahbaz, the head honcho of Sheikh Jassim's Nine 2 Foundation, and Fady Bakhos, the Qatari billionaire's personal advisor, were part of the Qatari delegation. The group also included Sam Powers, Yasir Shah from Bank of America, attorneys from Macfarlanes, and retail estate professionals.
Meanwhile, Jim Ratcliffe, a lifelong United follower, is scheduled to fly in from Switzerland on Friday, where he owns Ligue 1 football club Lausanne-Sport. His co-owners Andy Currie and John Reece, along with sport chair Rob Nevin and CEO Jean Claude Blanc, will join him in Manchester. Dave Brailsford, INEOS's sport director, will also be present on Friday.
Rumors are swirling about at least two other private proposals besides those from the public bidders. Raine, the seller's advisors, will reportedly ask all bidders to submit a second offer within the next ten days.
As of March 17, Jim Ratcliffe has already secured a substantial minority stake in the club and taken control of its football operations. However, the Glazers remain the majority shareholders [1][2]. Despite the progress made by Ratcliffe, the outcome of Sheikh Jassim's bid remains unclear.
- Despite the progress made by Jim Ratcliffe in securing a stake in Manchester United, the outcome of Sheikh Jassim Bin Hamad Al Thani's bid, a prominent businessman in Europe's financial circles, remains uncertain.
- The Qatari lender's visit to Old Trafford, led by Shahzad Shahbaz and Fady Bakhos, highlights their seriousness in the high-stakes finance negotiation regarding the ownership of Manchester United, a premier club in European football leagues.
- Meanwhile, as the bidding war for Manchester United unfolds, Jim Ratcliffe's involvement in both the English Premier League and Ligue 1, through his ownership of Lausanne-Sport, adds an interesting dimension to the business and sports landscape.
