It's official! Qatari banker and British billionaire Ratcliffe submit bids for Manchester United

After much hullabaloo, formals bid weresubmitted for the takeover of Manchester United. Sheikh Jassim bin Hamad Al Thani, the chairman of one of Qatar’s biggest banks as well as British billionaire Sir Jim Ratcliffe on Friday confirmed that they had filed their bids for the ownership of the club. The former released a statement,suggestingthat a 100 per cent takeover of the English clubs was on the cards.

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"Sheikh Jassim Bin Hamad Al Thani today confirmed his submission of a bid for 100 per cent of Manchester United Football Club," read the statement.

Al Thani added that putting in the bid was an attempt to steer the club to its 'former glories' both on and off the pitch. Explaining how he will be changing the footballing landscape of one of the biggest clubs in the world, the statement read:"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."

Al Thani is said to be a lifelong United supporter. His father Hamad bin Jassim bin Jabar Al Thani served as Qatar's prime minister between 2007-2013. He is a known figure in footballing circles due to Qatar's ownership of Ligue 1 giants Paris Saint-Germain.

WATCH |Qatari group preparing Manchester United takeover

As for Sir Jim Ratcliffe, the billionaire on previous occasions has confirmed that he has been in talks with the United board regarding a succession plan. Alongside Al Thani, he submitted a formal bid just before the 10 PM deadline on Friday.

Currently, the Glazers family owns Manchester United since 2005 but the fans have been adamant to force them out, primarily for not doing enough for the club.

Succumbing to the pressure, the American group in November last year shared their interest in seeking outside investment in the club.

The Glazers peg the club at $7.2 billion but the industry experts, as per ESPN, believe that the realistic price tag is around $5.4 billion.

Notably, United is not the only club in the 'Big-six' that might be sold in the upcoming months. Rumours have been swirling around the potential sale of United's arch-rival Liverpool to Qatar-based businesses too.

Similarly, Tottenham Hotspurs could be in for a takeover attempt from another gulf country. Currently, Manchester City and Newcastle United are the two clubs in Premier League handled by entities from the region.

(With inputs from agencies)

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