Saudi Arabia targets Man Utd takeover in late swoop to rival Qatar and Ratcliffe
Private groups from Saudi Arabia have joined the race to buy Manchester United ahead of Friday's deadline.
The Telegraph report that groups in Riyadh have made formal inquiries over a full takeover of the club from the Glazer family, who are looking to agree an outright sale.
The family are said to be keeping their options open as they receive the bids, with interest from Qatar and the British billionaire Sir Jim Ratcliffe, who thus far is the only bidder to go public with his offer.
Last November, the Saudi sports minister Prince Abdulaziz bin Turki Al-Faisal told the BBC that the government would support any Saudi private sector bids for United or Liverpool.
The country’s sovereign wealth fund already owns a controlling stake in Newcastle.
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Should either Ratcliffe or a bid from Qatar move forward, there could be questions to answer regarding their involvement in other clubs.
Ratcliffe's company Ineos owns French top-flight club Nice, while Qatar Sports Investments owns Paris St Germain. QSI is understood to be a wholly separate entity to the QIA, but QSI and PSG chairman Nasser Al Khelaifi does sit on the QIA board.
The Glazer family are looking at a full sale of the club (Getty Images)The Glazer family, announced last November they were conducting a strategic review, with the sale of United one option being considered.
American merchant bankers Raine were brought in to assist the club in assessing offers, and on Friday it is thought anyone interested in buying must formally indicate their interest and submit proof of funds.
Ineos told the PA news agency last month: “We have formally put ourselves into the process.”
United are set to be sold in one of the biggest deals in sporting history (Getty Images)Reports started to emerge of Qatari interest in the club last week. The Daily Mail reported a Qatar-based consortium was interested in a full buyout.
The Qatar Investment Authority, Qatar’s sovereign wealth fund with assets estimated at more than £370bn, has since been linked with a full buyout in other reports, something denied by multiple sources PA has spoken to.
Should a Qatari bid be put forward, PA understands from conversations on Thursday it is likely to come from a private fund.
Reports of Qatari interest have been criticised by Amnesty International.
Peter Frankental, the human rights group’s UK economic affairs director, told PA last week any Qatari buyout would be a “continuation of (Qatar’s) state-backed sportswashing project”.
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Amnesty and other groups have criticised Qatar over its treatment of migrant workers and its criminalisation of same-sex relationships.
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