Today, Bloomberg News said that Qatari investors are thinking about making an offer for the famous soccer team Manchester United (NYSE: MU).
The Doha-based consortium of investors is preparing a bid that will be submitted by the end of the week. Investors receive assistance and support from Qatar Investment Authority officials.
The club’s owners, the Glazer family, are being advised by the New York-based Raine Group. The bank established February 17 as the bid deadline. Multiple reports from last week indicated that the bank anticipates at least five strong bids. Only British billionaire Jim Ratcliffe has expressed interest in acquiring Manchester United.
The French club Paris Saint-Germain is already owned by Qatar Sports Investments, a distinct Qatari organization. UEFA, Europe’s premier soccer regulatory organisation, prohibits two clubs owned by the same entity from competing in Europe’s most prestigious tournaments.
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Bloomberg says that it hasn’t been decided for sure which Qatari businesses will end up giving money for the Manchester United offer.
Monday’s pre-market trading for Manchester United stock is up 5%.