Manchester United forward Jadon Sancho after a goal.
(Photo: AP)
London A bidding war is brewing for the most valuable brand in English football. Qatari banker Jassim bin Hamad Al Thani officially made a bid for Premier League club Manchester United on Friday. Sheikh Jassim is chairman of the Qatar Islamic Bank and the son of former Prime Minister Hamad Al Thani, one of the richest men in the Gulf state. The offer period for the traditional club expired on Friday.
This leads to a duel for the football club after the British entrepreneur Jim Ratcliffe had already expressed his interest a few weeks ago. Ratcliffe is one of the richest men in Britain and the founder of the chemical group Ineos. The amount of the offers is not known. New York-listed Manchester United shares have doubled since November, taking the club’s market value to around $4.3 billion.
However, according to unofficial estimates, Manchester United could be worth as much as £5 billion. If a sale were to go through at that price, it would be the highest price ever paid for a sports team.
So far, the record is held by Walmart heir Rob Walton, who paid $4.65 billion for American football club Denver Broncos last year. Manchester United is currently owned by the American Glazer family.
“The offer aims to return the club to its former glory, both on and off the field, and will above all aim to put the fans back at the heart of Manchester United Football Club,” said Sheikh Jassim, who describes himself as lifelong supporter of the traditional club.
Paris Saint-Germain also owned by Qatari investor – potential rule violation
The top club Paris Saint-Germain (PSG) has been owned by Qatar since 2011 and is part of the Qatar Sports Investment Group. Should Sheikh Jassim prevail at Manchester United, European football’s governing body UEFA will have to decide whether Qatari investors are independent enough not to break the rule book. According to UEFA rules, two clubs that have the same owner are not allowed to compete in a European competition.
The English Premier League continues to attract international investors. A US duo of Clearlake Capital and Todd Boehly recently took over Chelsea Football Club for £2.5 billion.
And there is also said to be a prospective buyer for Tottenham Hotspur, the last of the top six clubs still in English ownership: According to media reports, the Iranian-American billionaire Jahm Najafi is about to make an offer of 3, give up $75 billion. Many fans have been protesting the sell-out of traditional clubs to foreign investors for years.
More: First Ronaldo goes, now the investor: US family Glazer offers Manchester United for sale