(Football news) Qatari investors are set to make a bid for Manchester United next week after registering their interest with Raine Group, the investment bank that is marketing the sale of the club. Raine Group were also in-charge of Chelsea’s takeover and have asked bids to be submitted by the end of next week. While the Qatari investors are interested in taking over Manchester United, they have made it clear that they won’t overpay for the club. The Red Devils currently have a price tag of £6bn while the club are valued at £3.2bn at the New York Stock Exchange.
After Qatar’s successful 2022 World Cup, the country are keen to invest in more football projects and the investors linked to Manchester United are not the same as Paris Saint-Germain owners (Qatar Sports Investments). Sir Jim Ratcliffe’s INEOS have confirmed that they are interested in bidding for Manchester United while there is also interest from other parts of the Middle East and the United States. If the Qatari investors do manage to buy Manchester United, it will undoubtedly be a controversial move with Amnesty International saying it would be a “wake up call” for the Premier League to strengthen its ownership rules.
“Coming in the wake of the World Cup and strenuous efforts from the Qatari government to fashion a glitzy new image for the country, it seems highly likely that any Qatari bid for Manchester United would be a continuation of this state-backed sportswashing project,” said Peter Frankental, Amnesty UK’s economic affairs director. “We saw only limited reforms on migrant workers’ rights in Qatar in the lead-up to the World Cup, and there’s been no movement whatsoever in ending the disgraceful criminalisation of LGBTQ+ people or institutional discrimination against women.
“It’s been nearly 18 months since the hugely controversial Saudi takeover of Newcastle United and a Qatari bid for Manchester United would be yet another wake-up call to the Premier League over the need to reform its ownership rules. We’re not necessarily opposed to the involvement of state-linked overseas financial consortia in English football, but the Premier League must urgently strengthen ownership rules to ensure they’re human rights-compliant and not an opportunity for more sportswashing.”
It will be a big win for Manchester United supporters if the Glazers finally leave the club. However, getting the right owner will be as important as getting rid of the Glazer family. The club needs someone who is willing to invest money, especially considering that the stadium and training facilities are in dire need of refurbishment. It’s important that any potential new owners will put fan experience and fan involvement at the forefront as well as to get the club back to winning ways. With significant investment, Manchester United can become a force to be reckoned with in world football once again and fans will have their fingers crossed to see a takeover concluded sooner rather than later.
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