According to sources, members of the Qatari royal family are preparing to bid about £5B ($6B) for English Premier League football club Manchester United.
A
consortium including Hamad bin Jassim bin Jaber Al Thani, the country’s
former prime minister and former head of the Qatar Investment
Authority, is finalizing a bid to buy the club from the U.S. Glazer
family.
- Other bidders for the club
include British businessman Jim Ratcliffe, who’s already secured
financing from banks, including Goldman Sachs, for his proposal.
- Manchester
United has been the subject of several takeover rumors in recent months
after the Glazer family announced in August they were considering
selling a minority stake in the football club.
- The late Malcolm
Glazer purchased the football club in a 2005 leveraged buyout, adding
significant debt to the club’s balance sheet.
- On Thursday, The Telegraph reported that Saudi Arabia has also submitted a bid for the club.
