Sheikh Jassim Bin Hamad Al Thani, the chairman of one in all Qatar banks QIB, has made a ‘substantial’ bid for Manchester United.

The bid will carry no debt, they usually say all revenue will likely be reinvested into the neighborhood by means of the 9 Two Basis.

The Raine Group, who’re organising the potential sale on behalf of the Glazer household, requested for preliminary bids to be made by 10pm UK time on Friday.

An announcement stated: “Sheikh Jassim Bin Hamad Al Thani right now [Friday February 17] confirmed his submission of a bid for 100 per cent of Manchester United Soccer Membership.

“The bid plans to return the membership to its former glories each on and off the pitch, and – above all – will search to position the followers on the coronary heart of Manchester United Soccer Membership as soon as extra.

“The bid will likely be utterly debt free through Sheikh Jassim’s 9 Two Basis, which is able to look to put money into the soccer groups, the coaching centre, the stadium and wider infrastructure, the fan expertise and the communities the membership helps.

“The imaginative and prescient of the bid is for Manchester United Soccer Membership to be famend for footballing excellence, and considered the best soccer membership on this planet.

“Extra particulars of the bid will likely be launched, when applicable, if and when the bid course of develops.”

Evaluation: What are Sheikh Jassim Bin Hamad Al Thani’s plans for Man Utd?

Sky Sports activities Information’ Kaveh Solhekol:

“He’s the chairman of one of many greatest banks in Qatar. QIB financial institution. He was additionally on the board of Credit score Suisse, a giant Swiss financial institution. I am being informed he is a lifelong Manchester United supporter and that the membership will likely be owned – if he wins the proper to purchase Man Utd – by means of a basis referred to as the 9 Two Basis, named after the Class of 92.

“His imaginative and prescient for the membership, I am being informed, is an emphasis on youth and likewise on placing cash and funding into each the boys’s staff and ladies’s staff. He desires to redevelop Previous Trafford. There will likely be a brand new stadium, a redevelopment of the entire space round Previous Trafford, and crucially – and this is essential for Manchester United followers – this deal, if he buys the membership, will likely be completely debt free.

“It’s important to ask a whole lot of questions. Why does any person need to purchase Manchester United? What’s in it for them? Are they actually a Manchester United supporter? Do they need to become profitable out of it? Do they need to enhance their profile? Do they need to enhance the profile of Qatar?

“This night, every thing I am being informed is optimistic information for Manchester United supporters. I am not saying you need to exit and dance on the streets and rejoice as a result of the Qataris are coming. It’s important to ask extra questions.

“I am additionally being informed any earnings which can be produced from him proudly owning Manchester United he’ll put again into the membership and the 9 Two Basis. He does not need to make any cash out of this in any respect. He is not doing it to become profitable, he is doing it as a result of he is a Manchester United supporter.”

How a lot is the bid?

Sky Sports activities Information’ Kaveh Solhekol:

“Because the Glazers stated in November they had been successfully placing the membership up on the market, the Manchester United share value has doubled. It is now round $26 right now, which suggests, based on the New York Inventory Change, Manchester United is price £3.6bn. The worth of the membership has successfully doubled. Manchester United is price greater than it has ever been price earlier than.

“How a lot is that this bid from Qatar? I am being informed that’s confidential data. However we must be a determine of what Manchester United is price based on the New York Inventory Change. I used to be informed the Qataris would not overpay for United. My finest estimate can be someplace between £3.5bn and £4.5bn.”

Will this trigger a difficulty with Qatari possession of Paris St-Germain?

Sky Sports activities Information’ Kaveh Solhekol:

“This isn’t Qatar shopping for Manchester United. Qatar Sports activities Investments personal PSG. Will they be allowed to personal one other soccer membership? I am being informed this has acquired nothing to do with QSI. It is a non-public deal. That is any person who has some huge cash and desires to purchase Manchester United.”

How good a deal would this be for the Glazers?

Sky Sports activities Information’ Kaveh Solhekol:

“No matter you concentrate on the Glazers, in the event that they handle to promote Manchester United for something like £4bn or £5bn they are going to have pulled off an unimaginable funding. They purchased Manchester United 17 years in the past in a leveraged buyout and I believe they solely put in £150m-£200m of their very own cash. They purchased United in a deal price £790m.

“That funding, they might probably flip into £4bn, £5bn. Numerous that will likely be tax-free as a result of they moved Manchester United’s registered workplace from Previous Trafford to the Cayman Islands.”