Qatar, Saudi investors bidding to buy Manchester United

Culture

Adam Lucente

Marcus Rashford of Manchester United celebrates an own goal by Jules Kounde of FC Barcelona (not pictured), Manchester United's second goal during the UEFA Europa League knockout round play-off leg one match between FC Barcelona and Manchester United at Spotify Camp Nou on February 16, 2023 in Barcelona, Spain. (Photo by David Ramos/Getty Images) — Marcus Rashford of Manchester United celebrates an own goal by Jules Kounde of FC Barcelona (not pictured), during a match between FC Barcelona and Manchester United, Barcelona, Spain, Feb. 16, 2023. — David Ramos/Getty Images

Buyers in both Saudi Arabia and Qatar are seeking to buy the English association football/soccer club Manchester United. The interest is in line with the Gulf countries' economic and sports ambitions.

What happened: Bloomberg reported Thursday that a Qatari consortium is preparing an approximately $6 billion bid to buy Manchester United. The group includes Hamad bin Jassim bin Jaber Al Thani, a member of the royal family who previously led the Qatar Investment Authority, according to the outlet.

The Telegraph also reported Thursday that “private groups” in Saudi Arabia made formal inquiries to buy the club.

The news follows the Glazer family's announcement last November that the iconic English soccer team was for sale.

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Qatar, Saudi investors bidding to buy Manchester United

Investment in sports is a major part of Saudi Arabia’s economic diversification strategy, and Qatar has soccer ambitions of its own after hosting the World Cup.

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