Qatar’s $7.6bn bid for Man U to be finalised in October: UK news report

Qatari banker, Jassim Bin Hamad Bin Jassim Bin Jabr Al Thani, has won the race to acquire leading football club Manchester United in a £6 billion ($7.6 billion) deal, the Mirror newspaper has reported. The deal is due to be completed in October

Qatar’s $7.6bn bid for Man U to be finalised in October: UK news report

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British billionaire Sir Jim Ratcliffe has been in competition with the Qatari royal family since the American Glazer family announced they were open to selling the Red Devils.

The Glazers have now also agreed to hand over 100 per cent ownership of the club, despite previously saying they wanted to keep some shares. However, there have been fears that protests against the Glazers would increase should they continue to hold an interest in the club.

No official announcement of the deal or its expected completion date has been made.

Manchester United was bought by the Glazer family for £790 million ($1 billion) in 2005.

Al Thani plans to renovate Old Trafford – Manchester United’s stadium – and the training grounds.

The American owners put the club up for sale in September last year.

Source: Middle East Monitor under CC BY-NC-SA 4.0

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