The head of one of Qatar’s largest banks, Prince Jassim bin Hamad Al Thani, has declared that his foundation will make an offer to purchase Manchester United.
The action was taken in advance of Friday’s 22:00 GMT “soft deadline” for proposal submissions.
Although businessman Sir Jim Ratcliffe expressed interest in the matter last month, the second bid has now been made public.
The Qatari group stated that the offer aims to restore the club to its previous glory.
United was purchased by the Glazer family in 2005, and while they “explore strategic alternatives,” they may decide to sell the Old Trafford team.
The Qatari consortium also stated that Sheikh Jassim’s Nine Two Foundation, which will aim to invest in the football teams, the training facility, the stadium, and wider infrastructure, as well as the fan experience and the communities the club supports, would be responsible for paying off all debt associated with the bid.
“The bid’s ambition is for Manchester United to be known for its footballing prowess and to be considered as the finest football club in the world,” reads the statement.
Sheikh Jassim, the son of a previous Qatari prime minister and a man who has reportedly been a lifelong supporter of Manchester United, serves as head of the Qatari bank QIB.
About the sum that was allegedly offered in the consortium’s bid for the club, no information was provided.
In addition, the United States is anticipated to make United at least two proposals, and Saudi Arabia may also be interested, according to rumors.
This indicates that there may be up to five parties seeking to negotiate a full sale, with others seeking to make a smaller investment in exchange for partial ownership in the 20-time English league winners.