Manchester United is reportedly being sold and Qatari investors are preparing for an offer.
Multiple reports, citing sources familiar with the deal, say the consortium of investors will make an initial bid for the Premier League football club by the end of the week and that Qatar Investment Authority officials are helping to prepare for the bid.
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According to the Forbes list of most valuable sports teams, Manchester United’s $4.5 billion valuation was good for 19th place, sandwiched between two national soccer teams – the Denver Broncos and the Miami Dolphins. The Dallas Cowboys top the list with $8 billion.
Last month, Jim Ratcliffe’s company INEOS officially entered the bidding process to buy Manchester United after the club’s US owners, the Glazer family, said in November they had begun to explore options such as new investments or a potential sale .
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Earlier this month, the Daily Mail newspaper reported that Qatari investors are planning to launch a huge bid to buy Premier League club Manchester United.
The Daily Mail report says the interested investors are separate from Qatar Sports Investments (QSI), which owns Paris St Germain, and that the money will come from an “individual fund” rather than a sovereign wealth fund.
QSI is a state-backed body set up by Qatar’s Emir, Sheikh Tamim bin Hamad Al Thani, but European football’s governing body UEFA has strict integrity rules around multi-club ownership.
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No club participating in its competitions may “directly or indirectly hold or deal in the securities or shares of any other club”.
United, managed by Erik ten Hag, are third in the league on 46 points from 23 games, two points behind Manchester City and five behind leaders Arsenal.
Reuters contributed to this report.