Qatar plans takeovers in Spain and Brazil after Jassim's Man Utd hopes dashed

16 October 2023 , 17:44

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Qatar plans takeovers in Spain and Brazil after Jassim's Man Utd hopes dashed

Qatar is planning takeover of Spanish club Malaga and Santos from Brazil after Sheikh Jassim withdrew from the race to take over Manchester United.

The Qatari businessman had been one of two frontrunners – alongside Sir Jim Ratcliffe – in the United takeover race, after the Glazer family opened up the process in November last year. Ratcliffe is now poised to buy a 25 percent share of the club – with a long-term view to a complete takeover at Old Trafford.

United’s board will now vote to ratify investment from Ratcliffe, Britain’s richest man, this week – a move which will see him become the club’s largest individual shareholder as he looks to assume control over sporting decisions. However, the next step of Sheikh Jassim remains unclear, although investment from Qatar in other football clubs is likely.

Paris Saint-Germain president Nasser Al-Khelaifi played a role in Sheikh Jassim’s move to buy United by advising the businessman on the move. Sheikh Jassim is not connected to Al-Khelaifi’s Qatar Sports Investments (QSI), which is currently planning to invest in several other football clubs, but the two would have mutual interests.

QSI have owned PSG since their 2011 takeover and are hopeful of expanding their portfolio with minority investments in multiple clubs. Earlier this year, he met with Tottenham chairman Daniel Levy to talk about potential investment into the club.

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Alongside owning 100 percent of PSG, QSI have a 21.67 percent stake in Portuguese club Braga – widely recognised as the fourth biggest club in the nation – but they are thought to be hopeful of becoming minority investors in another European club in continental competition, alongside at least one South American club.

Indeed, QSI have held talks to invest into two others club in recent months. There has been interest in investing in Spanish club Malaga, who were relegated to the Spain’s third tier ahead of next campaign.

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Avram and Joel Glazer put Manchester United up for sale in November last year (Getty Images)

Malaga are currently owned by Abdullah Al Thani – from the Qatari ruling family and a distant relative of Qatar's previous ruler Sheikh Hamad. Despite initial heavy investment into the Andalusian club after buying them in 2010 – including reaching the Champions League quarter-finals in 2012-13 – their fortunes have plummeted since.

Al Thani’s investment into the club dried up and they slid into chaos. They were relegated from La Liga in 2018 and their latest relegation could throw their very existence into question.

QSI are also in the process of examining a move to buy Brazilian giants Santos – who want more economic capacity. They have even asked the club’s president Andres Rueda for the financial accounts of Santos to be studied ahead of a potential move.

The information is detailed in Brazilian outlet Globo which details how the father of Neymar – who started his career at the club before joining Barcelona – has acted as an intermediary in the potential takeover plans.

Colin Millar