Qatar Is Said to Prepare Imminent Bid for Manchester United FC

Bloomberg2023-02-13

Sheikh Tamim is a fan of the English Premier League clubWealth fund helping with preparations alongside family officesQatari investors are set to make an offer for Manchester United Plc in the coming ...

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AlexChan888
2023-02-13
AlexChan888
Good
NPC69
2023-02-13
NPC69
K
DQuek
2023-02-13
DQuek
Qatari super rich [Allin]

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Officials at sovereign wealth fund theQatar Investment Authorityare helping with preparations for a bid alongside local family offices, one of the people said, asking not to be identified discussing confidential information.New York bankRaine Groupis advising Manchester United’s owners, the US-based Glazer family.Manchester United has been the subject ofincreasingtakeover speculation since the summer, when Bloomberg Newsreportedthe Glazer family was open to selling a stake. So far, only British billionaire Jim Ratcliffe has officially declared his interest and isworkingwithGoldman Sachs Group Inc.andJPMorgan Chase & Co.on a potential offer.Qatar Sports Investments, a separate entity to QIA, already owns French super-club Paris Saint-Germain FC. Regulations from European football’s governing body, UEFA, state that teams with the same majority owner can’t both compete in the region’s major tournaments, including the showpiece Champions League. QSI chairman Nasser Al-Khelaifi is also amemberof the UEFA Executive Committee that adopts its regulations.Sheikh Tamim bin Hamad Al Thani, the ruling emir of Qatar, is a Manchester United fan and unlikely to want to let slip the chance to own what is widely regarded as one of the world’s biggest sports brands.More fromBloombergPursuitsKansas City Chiefs Win Super Bowl, Beating Philadelphia Eagles 38-35Ferrari CEO Moves Fast Like Musk While Forging Own Path on EVsSingle-Letter License Plate Sells for $3.2 Million in Hong KongRihanna Soars to Start Super Bowl Halftime ShowDeliberations are ongoing and no final decisions have been taken about which Qatari entities will ultimately provide capital for the Manchester United bid, the people said. A spokesperson for QIA declined to comment, while a representative for QSI wasn’t immediately available for comment.Adam Sommerfeld, a sport investment specialist at Certus Capital, has estimated that any offer for Manchester United would need to exceed £4 billion ($4.8 billion) to be successful. That would make it one of the largest ever deals involving a sporting franchise.Qatar spent more than $200 billion during the past decade redeveloping the country’s infrastructure to host the FIFA World Cup. Alongside building new stadiums and entire municipalities, it also bought sports assets. As well as the takeover of PSG, QSI has a stake Portuguese football club SC Braga.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9954632515,"gmtCreate":1676302971437,"gmtModify":1676302975170,"author":{"id":"4088992021427880","authorId":"4088992021427880","name":"AlexChan888","avatar":"https://community-static.tradeup.com/news/e20e7aaa911eb6974287f881b276a687","vip":1,"hat":"https://static.tigerbbs.com/306aa047bc14b6942cda1aed925cf8c3","crmLevel":2,"crmLevelSwitch":0},"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954632515","repostId":1181402859,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9954694434,"gmtCreate":1676299459429,"gmtModify":1676299462959,"author":{"id":"3584779133668268","authorId":"3584779133668268","name":"NPC69","avatar":"https://static.tigerbbs.com/47e7ac55312ae8dd1c9e7cb92adad089","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954694434","repostId":1181402859,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9954692867,"gmtCreate":1676298572460,"gmtModify":1676298576077,"author":{"id":"3579899712012688","authorId":"3579899712012688","name":"DQuek","avatar":"https://static.tigerbbs.com/0041a6750d53c4d39f0f9251bea439d3","vip":1,"crmLevel":5,"crmLevelSwitch":1},"htmlText":"Qatari super rich&nbsp;[Allin]&nbsp;","listText":"Qatari super rich&nbsp;[Allin]&nbsp;","text":"Qatari super rich [Allin]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9954692867","repostId":1181402859,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":72,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1181402859"}