Qataris CONFIRM debt-free £5bn Man Utd takeover bid as they vow to ‘return club to former glories’ & revamp Old Trafford
A QATARI bid to buy Manchester United has been confirmed – just before the deadline set by the Glazers.
Sheikh Jassim Bin Hamad Al Thani promised to make the club debt free if his offer – though to be around £5billion – succeeds.
And the former Qatar Prime Minister said his aim is to “return the Club to its former glories both on and off the pitch”.
The bid has raised questions as Qatar Sports Investment already own Paris Saint-Germain.
That means United and PSG could not both enter the Champions League – unless ownership was shown to be entirely separate.
But a statement from Qatar on Friday night said: “Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
“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.”
Shares in united soared bu £334million yesterday – as the Qataris prepared to put in their offer.
And they added in Friday’s announcement: “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.”