22
Reports about possible investments in Manchester United are coming in fast this week and the picture has become quite confusing.
United’s current majority shareholders, the Glazer family, are forced to either sell the club outright or gain new minority shareholders, as they have reached the limit of the credit they can use to finance the club.
They have put a company called the Raine Group in charge of the process of finding new investors. The Raine group has required all offers to be submitted by February 17, next Friday, with a view to the sale or partial sale being completed by the end of March.
Various figures have been released regarding the asking price for a complete sale. The Glazers are commonly reported to be asking for between $6 and $8 billion, but other sources have said that the real figure is more like $5 billion.
Ineos, headed by Britain’s richest man Sir Jim Ratcliffe, has declared its intention to bid and remains the only confirmed bidder. However, sources close to Ratcliffe have been adamant that he will not pay more than the club expected, with around $4bn seen as a more realistic figure.
If they were to take over the club, their ownership of OG Nice would have to be resolved as UEFA will not allow two clubs under the same ownership to compete in the same competitions.
It has been said recently that Dubai’s early favorites are highly unlikely to make the investment as the UAE is not financially strong enough at the moment and is “supported by funds from Abu Dhabi”. However, Avram Glazer has recently been seen meeting with Dubai dignitaries, fueling speculation.
Suggestions that Dubai is interested in #mufc have been dismissed by experts who point out that the nation has been backed by funds from Abu Dhabi. [@TeleFootball]
— utdreport (@utdreport) February 8, 2023
The potential investment in Qatar is causing a lot of confusion in the press. Two sovereign (state-owned) organizations are mentioned, the Qatar Investment Authority (QIA) and Qatar Sports Investments (QSI). QSI is the owner body of Paris Saint Germain.
Multiple reports have indicated that QSI may be interested in a minority stake in United, but nothing more, because they remain committed to PSG and do not want a conflict of interest.
That minority stake is more likely to be part of a consortium buying United from the Glazers, rather than a minority stake with the Glazers still in charge.
QIA, on the other hand, is reported on Wikipedia and in The Times as the parent body of QSI (although Ben Jacobs says that this is not the case and that they are two separate entities). Reports suggest that another fund within it could bid for a full sale without there being any conflict with QSI’s ownership of PSG. It is said that they are “assessing the market”.
“QSI is a subsidiary of the Qatar Investment Authority, the state sovereign wealth fund, and is therefore ultimately under the control of the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani. It remains to be seen how another fund with a link to Qatari royalty could become United’s new owner under current UEFA regulations,” The Times states plainly.
There have also been reports of a group of private investors from Qatar planning to make an offer.
So, in summary, from Qatar there are three potential investments: QSI potentially coming in as a partial investor, another subsidiary of QIA’s sovereign wealth fund buying directly, and a private investment group buying directly.
United Muppetiers has claimed that there are also three US groups preparing bids, Harris Blitzer Sports Entertainment (HBSE), a sports and entertainment holding company, Bain Capital co-chairman and Boston Celtics co-owner Steve Pagliuca and an unidentified third bidder.
There have also been multiple reports of an anonymous Saudi Arabian investor being in the mix and The Times says that “there are also claims of potential offers from countries like China and Singapore, as well as the Middle East.”
Other names that have been mentioned, such as Apple, the Ortega family and Indian billionaire Mukesh Ambani, are almost certainly out of place.
United Matchday Magazine – Stay on top of everything in red! Still craving more United content? Get everything you need right here. For just £2 for Leeds Extended Edition / £3.75 per month, you’ll get unique United information delivered straight to your inbox before every game and throughout the month. Get exclusive preparation for every game, plus team news, tactics and history. Not only that – United Matchday is packed with articles, news, transfer news, riddles, nostalgia and humor. Impress your friends and stay on top of everything in red!
