Qatar’s Sheikh Jassim bin Hamad bin Jassim bin Jaber Al Thani, through the newly formed Nine Two Foundation, and Britain’s Sir Jim Ratcliffe’s Ineos group launched rival bids for English Premier League side Manchester United on Friday. Sheikh Jassim, who is the son of former Qatari Prime Minister Sheikh Hamad bin Jassim bin Jaber Al Thani and the Chairman of the Qatar Islamic Bank, made a ‘substantial’ bid for the club, said reports.
The bid, which will carry no debt, says all profit made under his ownership would be reinvested into the community through the Nine Two Foundation. Reports indicate that Sheikh Jassim is willing to pay a world-record price for ownership of the storied club. The current world record is the £3.75 billion paid for the Denver Broncos NFL team.
The final figure paid by Sheikh Jassim will be determined only after he has been given access to the company account to take a detailed look.
Sheikh Jassim, who became a Manchester United fan as a 10-year-old in 1992, has said he will invest in both the men’s and women’s teams, as well as in the redevelopment of the stadium, training ground and the area around Old Trafford.
Ratcliffe, considered Britain’s richest man, has also made a bid for the club through his company Ineos.
The Glazer family, who bought United in 2005, are considering selling it to ‘explore strategic alternatives.’
Last year Chelsea were sold for £4.25 billion to a consortium led by American investor Todd Boehly.
