Qatari capital to buy Man Utd, bid amount 800 billion won ↑… ‘9.2 trillion won’

Posted Posted onMay 17, 2023 Comments0

It is understood that Qatari capital, which promised to pay about 8.4 trillion won for the acquisition of Manchester United, an English professional soccer team, increased the amount of the bid by more than 800 billion won.

The Guardian, a British daily newspaper, reported that a consortium led by Sheikh Jasim bin Hamad al-Thani, chairman of the Qatar Islamic Bank (QIB), offered 5.5 billion pounds, about 9.211 trillion won in our money, for the acquisition of Manchester United.

It was an additional 500 million pounds (approximately 837 billion won) 18 days after the 5 billion pound (approximately 8.374 trillion won) bid was submitted on the 28th of last month.

The new proposal, totaling £5.5 billion, included a plan to completely clear the club’s debt worth £1 billion (approximately 1.675 trillion won) and to create a fund to invest in club facilities and the community.

Some of this is expected to be used to refurbish facilities such as Old Trafford, which is more than 100 years old, and the club’s training ground in Carrington, near Manchester.

However, according to The Guardian, the raised bid also falls short of the 6 billion pounds (approximately 10.48 trillion won) offered by the current club owner, the American sports conglomerate Glazer family.

Qatar’s move is believed to be aimed at suppressing an offer from Ineos, which is led by British billionaire Jim Ratcliffe, its takeover rival.

Ratcliffe, famous for being a long-time Manchester United fan, took a strategy of paving the way for the Glazer family to exert some influence for the time being, even after the takeover, by demanding a majority of the shares, unlike the Qatar side, which wants a ‘100% stake’.

In this case, the Glazer family, known to own토토사이트 70% of the shares, will come down from the position of the largest shareholder, but they can still have a voice in the club’s decision-making bodies such as the board of directors through the remaining shares.

The British popular newspaper The Sun reported on the 10th that the Glazer family, satisfied with this approach, confirmed Ineos as the preferred negotiation partner, and the competition for acquisition seemed to be tilting toward Ratcliffe.

However, with no official announcement made over the next few days, the final direction of the club is again in the fog as Qatar raises the bid itself.

The Daily Telegraph commented, “Of the six Glazer siblings, it seems to depend on whether Joel and Abraham Glazer decide to give up their stake. The two were the most reluctant to give up control of the club.” .

The newspaper also reported that Man Utd coach Eric Tenhach, who wants to recruit players in the transfer market this summer, hopes that the owner of the club will be decided in June.

United was bought by American sports tycoon Malcolm Glaser for $1.47 billion in 2005, and when Malcolm passed away in 2014, his children became co-owners.

However, as Manchester United’s poor performance recently, fans’ dissatisfaction grew, and some fans protested demanding the ‘Glaser family’s resignation’.

In the end, when the Glazer family actually announced the sale of the club in November of last year, the acquisition competition ignited as various foreign capitals who wanted even a minority stake, including Qatar and Ratcliffe, showed interest.

Manchester United, who failed to advance to the European Football Federation (UEFA) Champions League (UCL) after finishing 6th last season, are doing well this season under Tenhach’s managerial system.

Currently, they are in 4th place in the English Premier League (EPL) with 66 points from 20 wins, 6 draws and 9 losses.


Leave a Comment