Qatar Sports Investment group ready to bid £4.5 billion for Manchester United: Reports
The Emir of Qatar is one of the richest men in the world powered by Oil and the recently finished world cup
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The ownership of Manchester United has become the talk of the footballing universe after word a big-money Qatari takeover started to resurface on Wednesday. According to multiple reports, the Emir of Qatar, Sheikh Tamim bin Hamad al-Thani, is interested in acquiring the Red Devils. The current owners of the club, The Glazer family, are allegedly entertaining offers to buy shares in the club.
The talks of a Qatari investment firm being interested in Manchester United have been making rounds ever since the club entered talks of a negotiation. However, till now, only Sir Jim Ratcliffe was considered as a serious buyer who came out to show serious interest.
The news of the Emir’s involvement is going to make it difficult for Sir Jim to compete purely because of the financial gulf between the two parties. The Qatar-royalty, according to the Guardian, does not value the club at £6 billion.
The Glazers believe that the club, along with its rich history and global presence, is worth the £6 billion. The owner will also have to restore the training ground at Carrington Road and renovate the Old Trafford stadium post-purchase. According to reports, the royal family thinks the club is worth $4.5 billion with the impending expenditure involved. The club went up for sale in November 2022 after 17 turbulent years under the American family. Raine Group are also leading the financials of the transaction.
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UEFA Regulation over the takeover
While the bid has gotten the fans of the club really excited, the regulations of the European watchdog, UEFA might pose some resistance. According to the rules, there cannot be two clubs which are owned by the same entity face each other off in a competition. Qatar Sports Foundation also owns Paris Saint-Germain. Going by the fact that Manchester United are a firm favorite for the UCL next year, it will create a conflict of interest.
The Royal family can bypass the laws either by creating a different consortium to complete the takeover or ask UEFA to bend its rules for the mega-money move. Going by the fact that this is going to be the most expensive acquisition in the history of the game, experts believe that the governing body might make exceptions.
The promise of a bigger transfer kitty
According to Daily Mail, the takeover would also mean that Manchester United manager Eric Ten Hag will be given the biggest war chest to complete any signing. The club had to quit their pursuit of major talents in the recent past due to their inability to compete with the allure of the richer clubs.
Daily Mail reported earlier that it believes that the Qatari Emirs might make a move for the club soon. This will make United one of the richest clubs in the world, with sufficient funding to make transfers.
A New Rivalry of States in Manchester
If the deal goes through, Manchester United will join Manchester City and Newcastle United in the list of clubs funded by oil money. These three clubs will represent the royal families of the two neighbouring countries of the Middle east. Manchester City and Newcastle will represent Saudi Arabia while Manchester United will be powered by the Emir of UAE.
This will result in a show of power and fortune unlike anything the footballing world has ever seen. As Manchester City are close to getting sanctioned by the FA, the fierceness of the situation will dilute a little but it will still be palpable in every situation.
With all the good things that the fans are excited to see take place in the Theatre of Dreams, there are some obvious caveats. Middle eastern countries are infamous for their abuse of human rights. There is a recent trend of “sports washing”, where infamous entities invest in major sports clubs and create a positive image in the mind of the unassuming fans and thereby whitewashing their hands. Major human rights foundation, Amnesty International has also warned the FA to be careful about issuing the fitness certificate that allows the selling or handover of clubs.
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Arpan Ghosh
(1403 Articles Published)