As reported by Sky Sports, the Qatari Royal Family is ready to place an opening bid worth £5 billion in order to purchase Manchester United ahead of the deadline date.
Initial bids must be submitted by Friday at 10:00 p.m. UK time. The Raine Group is managing the potential sale on behalf of the Glazer family.
The Glazers want at least £5 billion to sell the club, but no buyer will be willing to make a generous opening offer.
The squad, the Old Trafford stadium, and the city of Manchester would all see major investment in the event that Qatar made a bid for United.
The infrastructure of the team and the club needs to be rebuilt, and the Qataris are willing to spend a sizable amount of money to bring it back to its former glory at Old Trafford and United’s Carrington training facility.
Qatar is adamant about not overpaying, despite the Glazer family’s demand for at least £5 billion from United.
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The Qatari offer would have the support of Sheikh Tamim bin Hamad al-Thani, the Emir of Qatar, and a United fan.
Only Qatar’s and Saudi Arabia’s proposals are expected to not rely on borrowed funds to fund the deal.
Elon Musk, one of the richest men in the world, has not commented on rumours that he is thinking about placing a bid as of yet.
Musk has made light of the possibility of purchasing the club in the past on Twitter, which he currently owns.
Petrochemicals billionaire Ratcliffe is another bidder who has expressed interest in United. He is collaborating with American investment banks J.P. Morgan and Goldman Sachs.
Qatar would continue to support Paris Saint-Germain if it were to acquire United since Qatar Sports Investments, a division of Qatar’s sovereign wealth fund, the Qatar Investments Authority, owns the club.
United would be owned by investors or funds associated with the Qatari royal family in order to comply with UEFA regulations regarding multi-club ownership.
