Qatari Man Utd bidders given boost with no Saudi Arabia takeover offer

Qatari bidders for Manchester United have been given a major boost with reports suggesting that no parties from Saudi Arabia have made an offer for the club. Those behind Sheikh Jassim Bin Hamad Al Thani’s bid are now said to be confident that they can complete a deal for the club ahead of Sir Jim Ratcliffe and his Ineos group.

United were first put on the market in November after the Glazer family announced that it was ‘commencing a process to explore strategic alternatives’ for the club. Options ranging from bringing ‘new investment into the club, a sale, or other transactions involving the company’ were to be considered with interested parties invited to come forward. However, a full sale is widely believed to be the most likely outcome.

The last week has been an important milestone in the potential takeover with the Raine Group, who are overseeing the sale, making last Friday their ‘soft deadline’ for initial bids. So far only bids from Al Thani and Ratcliffe have been confirmed with other parties yet to go public if they have made an offer.

The current bidders have now been offered a big boost with the Daily Mail reporting that no bids have come in from Saudi Arabia. The nation’s public investment fund (PIF) already owns Newcastle United and the potential conflict of interests was deemed to be unpalatable.

READ MORE: Inside the life of the mega-rich Qatari banker leading ‘£4bn bid’ to buy Man Utd

Al Thani hopes to purchase a 100% share in the club and has centred his pitch around restoring the club to the very top of world football. In contrast, Ratcliffe hopes to acquire a 69% share and hopes to use the locality of Manchester to strengthen his pitch.

Meanwhile, the Manchester United Supporters Trust have issued a statement after Friday’s deadline listing their concerns with the two confirmed bids.

“MUST was very clear about our list of asks for any new owner of Manchester United,” the statement read. “These were to restore the club to the top of European football, invest in the teams, the wider club and the stadium, to ensure financial stability, and to work in true partnership with fans at all times.

“These principles have been backed to date by 150 fan groups from all across the world. The open letter to bidders is already published.

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“Any bid will be judged against these criteria, but with the news of the specific bids coming in further considerations arise. There are questions about sporting integrity given the exceptionally close links between some bidders and the owners of other European clubs including PSG and Nice.

“There are also questions about whether any bids will also be based on high levels of debt. We also note the importance that any owner respects the rights of all people, particularly women and the LGBTQ+ community. Concerns have been raised by other fans groups which we fully support.

“We urge all bidders to open a dialogue with fans groups alongside the bidding process with the club, in order to discuss their proposals including the above issues.”

It remains to be seen which party ends up winning preferred bidder status with no timeline yet to be placed on the next stages.