Qatari Sheikh Jassim Bin Hamad Al Thani Makes Official Bid for Manchester United
Posted on 02/20/2023
Qatari Sheikh Jassim Bin Hamad Al Thani officially made a bid for English Premier League club Manchester United Plc. He is the third son of Qatar’s former prime minister Hamad bin Jassim bin Jaber Al Thani (HBJ). The Qatari buyer hired Bank of America Corporation as one of its financial advisors.
“Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100% of Manchester United Football Club,” Al Thani’s statement read.
“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.”
“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.
“More details of the bid will be released, when appropriate, if and when the bid process develops.”
In November 2022, club owners the Glazer family announced their intention to explore the sale of the club. The Raine Group is in charge of handling the sale of the football club. At just under 30-years-old, Jassim Bin Hamad Al Thani became a board member of Credit Suisse Group AG.
Other bidders include Jim Ratcliffe, one of Britain’s wealthiest people with a fortune also made from natural resources. Ratcliffe is making the bid through his company INEOS. Hedge fund Elliott Investment Management LP also is emerging as willing to provide financing. In August 2022, Elliott completed the US$ 1.2 billion sale of AC Milan to the private equity firm RedBird Capital Partners, after the club won the Series A title. It took control of the team in 2018.
In 2010, Qatar won its bid to host the 2022 World Cup.