Man Utd takeover: Qatar investors release statement after 'substantial' bid | OneFootball

Qatari Sheikh Jassim Bin Hamad Al Thani has officially made a move to buy Manchester United Football Club.

Sir Jim Ratcliffe, Britain's richest man, and his Ineos group have also launched a rival bid for the Red Devils.

Sheikh Jassim, the chairman of Qatar Islamic Bank, made a 'substantial' offer to acquire 100% of the club from the Glazer family before Friday's 10pm deadline.

And to make matters even more enticing for United fans, Sheikh Jassim is prepared to pay a world-record fee for the Red Devils.

Per Sky Sports, an insider said: "If the Glazers don't get top, top dollar then they aren't going anywhere."

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So Sheikh Jassim is prepared to surpass the record to buy a sports club, the current one being the £3.75 billion coughed up for the Denver Broncos - an NFL franchise.

But a final figure will only be determined after the investors have taken a prolonged looked over United's accounts.

The enormous bid from Qatar comes with no debt whatsoever and 100% of the club profits would be invested back into the community. Much of the investment is planned to go into the redevelopment of Old Trafford, the training ground and surrounding area.

Check out the statement released by Sheikh Jassim on Friday evening...

What did Qatari party say after making their Man Utd bid?

Their statement read: "Sheikh Jassim Bin Hamad Al Thani today [Friday February 17] confirmed his submission of a bid for 100 per cent of Manchester United Football Club.

"The bid plans to return the club to its former glories both on and off the pitch, and - above all - will seek to place the fans at the heart of Manchester United Football Club once more.

"The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the club supports.

"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world.

"More details of the bid will be released, when appropriate, if and when the bid process develops."

So, who is Sheikh Jassim Bin Hamad Al Thani?

Born in 1982, Sheikh Jassim is the son of a former Qatari Prime Minister and was educated at the Royal Military Academy at Sandhurst, UK.

He was previously a board member at the world-renowned Credit Suisse Group and is now chairman of QIB.

Sheikh Jassim is also a United fan, having first started supporting the club way back in 1992 - just before the glory years under Sir Alex Ferguson.

"I'm being told any profits that are made from him owning Manchester United he will put back into the club and the Nine Two Foundation," Sky Sports reporter Kaveh Solekhol has said.

"He doesn't want to make any money out of this at all. He's not doing it to make money, he's doing it because he's a Manchester United supporter."