Qatar does not accept Glazer's house price to sell Man Utd
Today, February 17 is the deadline for investors to submit an offer to buy Man Utd. The asking price for the Glazers is at least £6 billion ($7.2 billion).
Qatari investors are likely to submit an offer before the deadline today, February 17, and have planned to invest in Man Utd. They are willing to spend significant sums of money to redevelop Old Trafford, or tear down this iconic stadium to build a new modern facility, as well as upgrade the Carrington training center. Such a large project could cost an additional $2.4 billion, but that is not a problem for the Qatari group of investors.
The emir of Qatar is a huge fan of Man Utd and knows the club's history well. In 2011, the Al Thani family was said to have sent an offer of more than 1 billion USD to Man Utd, but was rejected by the Glazer family. In the same year, they bought a 70% stake in PSG. Although the French capital club has not won the Champions League, Qatar's investment has turned PSG into the strongest club in France and a global force.
Al Thani is currently the owner of PSG through the Qatar Sports Investment Fund (QSI) - a subsidiary of the Qatar Public Investment Fund (QIA). Therefore, other personnel must be registered for ownership of Man Utd, if the deal is approved, so that both the Premier League and PSG representatives are allowed to play in the Champions League.
According to UEFA rules, two teams playing in the same league cannot be owned by the same owner, either directly or indirectly, with the possibility that PSG and Man Utd could face each other in the European arena. At the moment, PSG is leading Ligue 1, Man Utd is third in the Premier League, and the two teams are likely to compete in the Champions League next season.
The Al Thani family holds investments in a number of properties around the world, including the Shard skyscraper in London, the Olympic Village, Harrods department store, Canary Wharf, Chelsea Barracks and the Empire State Building in New York. They also hold investments in Barclays Bank, British Airways and Volkswagen.
Qatar's main rival in the Man Utd deal is Britain's richest man, Jim Ratcliffe. After the failed acquisition of Chelsea in May, a spokesman for Ratcliffe confirmed the 70-year-old billionaire is a "potential buyer", if Man Utd is for sale. He was told to seek a deal with US investment banks Goldman Sachs and JP Morgan before submitting an offer to the Glazers.
Elon Musk - one of the richest people in the world - has not yet commented on the news that he is considering buying Man Utd. Musk is a fan of Man Utd and once joked that he wanted to buy Man Utd with a Twitter post in August 2022.
