MM News

LONDON: A consortium led by a Qatari banker announced Friday it had submitted an offer to take full control of Manchester United, with British billionaire Jim Ratcliffe also reported to have lodged a bid.

Sheikh Jassim Bin Hamad Al Thani “today confirmed his submission of a bid for 100 percent of Manchester United Football Club”, his press release said ahead of Friday’s “soft” deadline for bidders.

Ratcliffe’s company Ineos is the only other bidder to have officially declared an interest, keen to expand a sporting portfolio that already includes French side Nice and Swiss team FC Lausanne-Sport, as well as the cycling team Ineos Grenadiers, formerly Team Sky.

The Daily Telegraph reported late Friday he had told Raine Group, the US merchant bank conducting the sale, that he could be the club’s “long-term custodian”.

A BBC report said Ratcliffe had submitted a bid before the 2200 GMT deadline.

A bid from Saudi Arabia had also been expected.

The statement from Sheikh Jassim, chairman of Qatar Islamic Bank (QIB), did not give any details on the amount proposed in the bid for United.

However, the price could reach a record $6 billion, according to reports.