The “for sale” sign went up at Manchester United only in November, and now a filthy rich oil-producing nation-state is eyeing them with serious intent.
The Emir of Qatar, Sheik Tamim bin Hamad al-Thani, who already owns Paris Saint-Germain (PSG), is interested in buying the illustrious English club for £4.5 billion.
If the deal goes through it will be the third Premier League club to be bought with oil money. In 2008 a private equity group controlled by the royal family of Abu Dhabi bought Manchester City. In October 2021 a Saudi consortium bought Newcastle United for a reported £305 million, making them the richest football club in the world.
Some Manchester United fans are already salivating at the prospect. They hope that their new blessers will begin with a major investment in manager Erik ten Hag’s squad.
However, the deal is not a foregone conclusion. While the Emir believes a £4.5 billion valuation is fair, the Glazer family, who have owned United since 2005, want £6 billion, according to the Guardian.
There is another major hurdle before the 20-times champions of England can be sold to the Qataris: European football’s governing body Uefa’s strict ownership rules.
To avoid collusion should PSG and Manchester United face each other in European competitions, Uefa rules spell it out: “No individual or legal entity may have control or influence over more than one club participating in a Uefa club competition.”
And adding to the possible hindrances, there is set to be major controversy with regard to the new ownership, given the human rights record of Qatar.
As was seen with the purchase of Newcastle United and in the recent Fifa World Cup, human rights activists will challenge the deal. Amnesty International has described Qatari interest in United as “another wake-up call” to the Premier League with regard to strengthening its ownership rules.
But the Qataris are not the only interested parties. One of Britain’s richest people, Sir Jim Ratcliffe, confirmed last month that his company is in the running to buy United from the Glazer family, the Guardian reported. The 70-year-old billionaire, who is a lifelong Manchester United fan, owns the petrochemical and fracking giant Ineos.
Pictured above: The entrance to Manchester United stadium Old Trafford
Image source: @DeadlineDayLive
