Qatar’s banker Jassim, Jim Ratcliffe submit bids for Man United

Jassim Bin Hamad Al Thani, the chairman of one of Qatar’s biggest banks, and Jim Radcliffe, the British billionaire, on Friday, both submitted substantial bids to buy Manchester United.

The Glazers, owners of Manchester United, had made known their intention to sell the club late last year. Since then, there have been potential suitors flocking around the 20-time EPL champions.

While Manchester-born Radcliffe had shown interest since the news broke, the Qatari bid is a last-minute attempt to take the club off the hands of the current American owners.

According to BBC, the duo put in their bids before the 10 pm deadline on Friday.

While Radcliffe announced his interest to be the owner of United through his firm Ineos Group, Jassim sought an outright purchase of the club through his Nine Two Foundation.

Jassim stated that he plans to make the club debt-free and restore its lost glories in a statement.

“Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club,” the 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.”

Described as a life-long Manchester United fan, Thani is chairman of Qatari bank QIB and the son of a former prime minister of Qatar, while the 70-year-old Radcliffe is Britain’s richest man.

The Glazer family bought Man United in 2005 for about $1.4 billion.

But the club has struggled since the retirement of Sir Alex Ferguson. The Red Devils are currently on a five-year trophy drought.

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