Sheikh Jassim Bin Hamad Al Thani, the chairman of one of Qatar's banks QIB, has tabled a bid for the complete takeover of Manchester United. The Glazer family put the club up for sale last year amid growing pressure from the Red Devils fanbase.
If Sheik Jassim is successful in completing his takeover of United, the club would very quickly become one of the wealthiest outfits in the world - let alone the Premier League. Newcastle's owners, a consortium made up of Saudi Arabia's Public Investment Fund, RB Sports & Media and PCP Capital Partners, are worth a staggering £520billion while Manchester City's Abu Dhabi United Group owners are said to be worth £18billion.
Arsenal and Chelsea's owners, meanwhile, are worth a reported £10.8billion and £13.2billion respectively. In a statement by Sheik Jassim, he outlined that his bid to buy United is mutually exclusive to that of Qatar Sports Investments' ownership of Paris Saint-Germain - and says they hope to "return the club to its former glories both on and off the pitch".
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"Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club," an official statement reads. "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."
It's said that the bid will carry no debt, with all profit reinvested into the community through the 92 Foundation. The Raine Group, who managed Roman Abramovich's sale of Chelsea, outlined that initial bids must be made by 10pm GMT on Friday, February 17.
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