Qatar plans to make bid to buy Manchester United
Middle Eastern interest in football is stronger than ever. After the United Arab Emirates who bought Manchester City in 2008 and Saudi Arabia who acquired Newcastle United in 2021, it is now Qatar, owners of French club Paris Saint-Germain, who seem to want to enter British football. and acquire the most successful club of the Premier League era: Manchester United.
According to Bloomberg, Sheikh Tamim bin Hamad al-Thani plans to submit an offer for the Red Devils in the coming days. The publication reports that representatives of Qatar’s sovereign wealth fund, Qatar Investment Authority, are working on Doha’s preliminary offer, while New York-based bank Raine Group is advising the Glazer family, the current owners of the Mancunian club.
Following this news, Manchester United’s stock rose nearly 2% on Wall Street. Over the past three months, a period which has seen the club rebound under Dutchman Erik ten Hag and the departure of Cristiano Ronaldo, the English club’s shares have risen by more than 80%. The total market value of the club is approximately $4 billion.
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