Qatari banker Sheikh Jassim bin Hamad Al Thani has confirmed that he has submitted a bid to complete a takeover of Manchester United.
It was announced shortly after 8pm on Friday evening, just under two hours before the 10pm 'soft deadline' for bidders, that the chairman of one of Qatar's biggest banks - Qatar Islamic Bank - had tabled an offer. He has joined British billionaire Sir Jim Ratcliffe in the running to buy the club from the Glazer family, though other interested parties are yet to confirm whether they have tabled official bids.
A statement confirming the bid said: "Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club.
READ MORE: Who is Sheikh Jassim bin Hamad Al Thani? Qatari banker behind United offer
"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 has been claimed in Qatar that Al Thani's bid to oust the Glazers exceeds €5billion, meaning United would be the subject of the most expensive takeover deal involving a sports club in history. It has, of course, sparked questions among United's supporters about how much the Qatari banker could be worth.
Below, MEN Sport has taken a close look at Al Thani's current wealth and his background.
How much is Al Thani worth?
Al Thani, who claims to be a lifelong United fan, is the son of former Qatari prime minister Hamad bin Jassim Al Thani, also known as HBJ. He is also a member of the Qatari royal family. Forbes magazine estimates he has a net worth of $1.3bn (£1.08bn).
Part of Qatar's ruling royal family, it is claimed that they have a collective net worth estimated to be around $335billion (£275bn). The head of the royal family - Sheikh Tamim bin Hamad Al Thani - is estimated to be worth around $2bn (£1.6bn) just on his own.
As for Al Thani's offer to buy United, MEN Sport, at this stage, understands that current bids are only indicative and once bidders reach the next stage of the process they will enter a 'data room' where potential purchasers will be able to see the relevant financial information. This is the point where everyone will have to submit their bids, once they understand the value of assets and debts.
A full sale of the club is one of the options, although Avram and Joel Glazer have also considered buying out the shares of their other four siblings.
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