Takeover recap: Qatari and Sir Jim Ratcliffe bid for Manchester United, statements made

In major breaking news, Manchester United have received a bid from Qatar for the ownership of the club ahead of the deadline the Glazers have set for offers to come in.

An official statement confirming the news reads as follows: “Sheikh Jassim Bin Hamad Al Thani today 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.”

Reports from French journalist Loïc Tanzi say that the offer from Qatar is £4.5 billion with no debt.

It was added that there are already investments in transfers, the stadium and training ground promised.

Meanwhile, Sky Sports have reported that the Qataris are prepared to break the world record for purchasing a sports team.

Mike Keegan of the Daily Mail closed in on the finances, reporting that spending will not be reckless, but would be substantial on and off the pitch, with a particular focus on investing in the youth set-up.

His report also mentioned that the current bid from Qatar is ‘indicative’ and based on what they think from the data room, where they will be able to see United’s assets, debts and more in full.

Sky Sports added that Al Thani is not planning to buy the club in order to make money and that he is doing this because he is a Manchester United fan. Jamie Jackson of The Guardian has added that the Nine Two Foundation that is bidding to buy the club has been called that because Al Thani became a United fan in 1992 and as a reference to the Class of 92.

Meanwhile, later on Friday evening Sir Jim Ratcliffe also placed a bid on the club. with one source telling The Telegraph: “His [Ratcliffe’s] aim is to be a long-term custodian of Manchester United and set the standard for a progressive approach to club ownership. As locally born, he wants to put the Manchester back into Manchester United.