Manchester United were the subject of an official bid of a minimum £4bn on Friday from Sheikh Jassim bin Hamad al-Thani, the chairman of QIB, a Qatari bank. The offer comes with a promise to load no debt on the club and to redevelop the club’s infrastructure.
The bid from Sheikh al-Thani, via his Nine Two Foundation, came before Friday’s 10pm “soft” deadline for all potential buyers to lodge their opening offers for the club. Sir Jim Ratcliffe, the Ineos chairman and Britain’s richest person, also confirmed his bid for “majority ownership” on Saturday following widespread reports of an offer on Friday night.
A Nine Two statement said: “Sheikh Jassim bin Hamad al-Thani today confirmed his submission of a bid for 100% of Manchester United. 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 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 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.”
Thani is the son of Qatar’s former prime minister. He is understood to have become a United fan in 1992, the reason for the name of the Nine Two Foundation. A further reason is as a reference to the club’s Class of 92, the group of homegrown players led by Ryan Giggs and David Beckham who enjoyed glittering careers in the first team.
In a statement released on Saturday, Ineos said: “We can confirm that Sir Jim Ratcliffe and Ineos have submitted a bid for majority ownership of Manchester United Football Club. We would see our role as the long-term custodians of Manchester United on behalf of the fans and the wider community. We are ambitious and highly competitive and would want to invest in Manchester United to make them the number one club in the world once again.”
“We also recognise that football governance in this country is at a crossroads. We would want to help lead this next chapter, deepening the culture of English football by making the club a beacon for a modern, progressive, fan-centred approach to ownership. We want a Manchester United anchored in its proud history and roots in the northwest of England, putting the Manchester back into Manchester United and clearly focusing on winning the Champions League.”
