The Raine Group bank overseeing the process to buy United has set a deadline of 10pm on Friday to submit bids for the Premier League club. Al Thani confirmed his offer on Friday evening via a statement.
An offer in the region of £4-5bn has been made. He has promised fans that he will return United to their ‘former glories’.
A statement read: “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
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“The bid plans to return the Club to its former glories both on and off the pitch, and – above all – will seek to place the fans at the heart of Manchester United Football Club once more. 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 Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops.”
Wide-ranging reports in England claim that the bid is in the region of £4-5bn. That means it would meet the Glazers’ apparent valuation of around £5billion. It comes nine months after Premier League rivals Chelsea were sold to the Boehly-Clearlake capital consortium for £2.5bn.
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However, a contrasting report from French outlet L’Equipe place Al Thani’s bid at £3.9bn. That would fall short of what the Glazers want for the fallen giants, with the Americans hoping for a fee closer to £6bn.
Al Thani is the chairman of the Qatari bank QIB and claims to be a lifelong United fan. He was pictured on the stage of the World Cup Final ceremony and was frequently seen with VIP guests – including David Beckham – during the tournament. The 40-year-old is the son of the former prime minister.
Sir Jim Ratcliffe – Britain’s richest man and the founder of INEOS – is also involved in the bidding process.
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