Qatari Sheikh Jassim makes bid to buy Manchester United
Sheikh Jassim bin Hamad Al Thani, the chairman of Qatar Islamic Bank and son of a former prime minister, has submitted a bid to buy Manchester United from the Glazer family, as confirmed in a statement released by his ‘Nine Two’ foundation on Friday.
The bid is reportedly in the region of £4 billion, below the £6 billion valuation that the Glazers reportedly set. Al Thani detailed his intentions in his statement, stating:
“Sheikh Jassim bin Hamad al-Thani today confirmed his submission of a bid for 100% of Manchester United. 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 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 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.”
Via The Guardian
The bid arrived ahead of the 10 p.m. soft deadline that was set for prospective owners by the Raine Group, which is overseeing the sale of the club.
There are reports that Al Thani has been a dedicated Manchester United fan since he was 10, and his promise that he will wipe away the club’s debts is an appealing pitch to a fanbase that has endured Glazer ownership for 17 years.
When the Glazers bought Manchester United it was a debt-free club. They walk away leaving it saddled with debts.
However, it is not guaranteed that Al Thani’s bid will win. British billionaire and Manchester native Jim Radcliffe also submitted a bid via his company, INEOS Group Limited. The Ineos group also owns the cycling team INEOS Grenadiers, Nice FC, FC Lausanne-Sport and a third of the Mercedes Formula One team.
However, he’s not the only other one bidding. BBC Sport reported that the Glazers are expecting two bids from the United States and there are reports of interest from Saudi Arabia. It’ll likely descend into a bidding war over the English club.
Are there ethical considerations?
Both confirmed bids are not without controversy. There are questions as to whether either man can legally own the club, given UEFA regulations dictate that two different clubs in their competitions can’t be owned by the same entity. However, given RB Leipzig and RB Salzburg both play in the Champions League, it will likely not be an issue.
Furthermore, there are also ethical questions to consider.
The Qatari state has a poor human rights record, which was brought to light during the recent World Cup. Would LGBT fans feel comfortable supporting a club owned by a state where it’s illegal for them to exist? Women still don’t have equal rights as men, and their treatment of migrant workers was tantamount to slavery.
It’s distasteful to see Manchester United fans celebrate the bid, given that Qatari ownership would marginalize a significant proportion of the fanbase. It’s evident that years of Glazer ownership have made them far more willing to overlook ethical issues if the owners are willing to invest.
Ineos is not squeaky clean either. They are a petrochemical company that is a major polluter and has shown no interest in altering that.
Whilst both potential owners have claimed to be fans, there are clearly other factors motivating them in wanting to buy Manchester United. Both could credibly be accused of wanting to use United to ‘sportswash‘ their reputation.
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