Qatar’s takeover of Manchester United unlikely as Glazers plan to stay put: report
An ESPN report suggests that current owners may want to hold onto the club and try and double its value.
The chances of a Qatari takeover of Manchester United appear to be dimming after a report emerged saying that the current owners of the British soccer club, the Glazer brothers, are in favor of a new investment in the team that would allow them to remain in charge.
The Glazers said in November 2022 that they were looking at "all strategic alternatives, including new investment into the club, a sale or other transactions" to raise the funds required to transform the team, the training ground and Old Trafford stadium.
Qatar’s Sheikh Jassim bin Hamad al Thani, a banker and son of a former Qatari prime minister, was the favorite to take over Manchester United after talks progressed to the third round in April. Britain’s richest man, Jim Ratcliffe, was also in the running. Thani's second bid was understood to be a world-record offer of more than £5 billion ($6.18 billion) for the Red Devils, but the Glazers have asked for £6 billion for the club. The Sun reported on March 25 that Thani was also going to offer to form a joint venture with the Glazers that could see NFL games play in the Middle East in a bid to add a sweetener to the offer. The Glazers own the Tampa Bay Buccaneers football team and expanding in the Middle East would present a significant opportunity to further monetize the franchise.
But ESPN, citing a source familiar with the discussions, reported Monday that the Glazer family, who have owned Manchester United since 2005, might be looking to hold on to the club and double its value. The source told the network that Avram and Joel Glazer believe that they can double the value of the club, making it worth at least £10 billion.
