There's lots of talk about QIA somehow pivoting from #LFC to #MUFC. Understanding remains QIA did not hold any advanced talks, or make an offer, for #LFC despite wanting to explore the football market. & still told a private fund will front Qatar's expected #MUFC offer.
What makes Qatar's interest complicated is a variety of groups and individuals have key input. Ultimately any offer is driven by the Emir. But QIA sources, familiar with discussions, say they won't be the face of an offer. As reported, QSI not directly involved either.
The Qatari bid is not expected to meet the Glazer's valuation for an outright sale. All offers are initial and further due diligence will be required to establish a more accurate valuation. Friday could easily be an anti-climax.
As reported, keep an eye on Harris Blitzer Sports Entertainment, who have looked at both #MUFC and #LFC. Unlike the #CFC sale process they don't have Sir Martin Broughton involved. Stephen Pagliuca declining to comment on any interest. He proved the 'mystery' bidder for Chelsea.
3-4 credible bids are anticipated, but the 10pm (UK) deadline is soft. Late offers will be accepted and it's equally as possible Raine Group formally extend the deadline.
As for #LFC, well-placed sources close to FSG dismiss anything concrete from Qatar (historical or active).
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Jim Ratcliffe's INEOS have also submitted their bid to buy #MUFC. Ratcliffe's initial valuation is lower than Qatar's, but price is changeable as bidding process continues. Ratcliffe has what's being termed a "fan-centric" approach and is a life-long #MUFC fan.
Ratcliffe felt last year that the Glazers didn't want to sell the club. He told FT, "They don't want to sell it... we can't sit around hoping one day #MUFC will become available."
Sources close to Ratcliffe say although money will be borrowed to finance any deal, INEOS will assume the debt. It will not be burdened on #MUFC.
Sheikh Jassim bin Hamad Al Thani is "confident" in his #MUFC bid. But important to stress it is only an initial offer, and one that will be changeable. Now the real due diligence starts, which will define the final number. The confidence comes from the fact it's a debt-free bid.
The aim of this part of the process is to get through to the next stage. As a result, Nine Two Foundation have not tabled anything close to £6bn. Well-placed sources say the offer is "competitive but only a first bid."
But the group have worked "tirelessly" to not only assess their approach, personnel and strategy, but ensure their vision is clear: to invest in the club at all levels. As reported, it was seen as important they went public before the deadline and as quickly as possible.
More on Sheikh Jassim bin Hamad AI Thani's offer for #MUFC. As expected, it's an outright bid that is "completely debt free" via Sheikh Jassim's Nine Two Foundation, which nods to the Class of 92.
Sheikh Jassim was born in 1982, is a life-long Manchester United fan and the son of the former Prime Minister Hamad bin Jassim Al Thani.
A statement from Sheikh Jassim says, "The vision of Sheikh Jassim’s bid is to restore the best traditions and return the former glories of Manchester United Football Club."
🚨 Nasser Al-Khelaifi and Yousef Al-Obaidly have been cleared of IAAF corruption charges relating to the bidding process for athletics' 2017 World Championships.
BeIN statement: “We take note with satisfaction of the ruling of the Court of Causation in France, which dismisses the IAAF-related procedure against Nasser Al-Khelaifi & Yousef Al-Obaidly in its entirety... this case evidentially had zero standing & completely flawed merits."
beIN always argued the main case didn’t relate to Al-Khelaifi or Al-Obaidly. It centred around serial corruption carried out by former IAAF president Lamine Diack and his son Papa Massata Diack.
Iranian-American billionaire Jahm Najafi is preparing a $3.75bn bid to buy Spurs, as revealed by @FT. Spurs position is that no approach has been made yet.
Najafi's MSP Sports Capital will finance 70% with other backers involved from the MENA region. Whereas Daniel Levy has been exploring minority investment, including exploratory talks with QSI, Joe Lewis would consider a full sale at the right price, but his valuation is $4.5bn+.
Spurs have previously denied any talks regarding the equity of the club and are yet to receive any offer. #MUFC will also be glad of a $3.75bn number coming out into the market just days before their own soft deadline.
Qatar's Emir was at PSG-Bayern. Sheikh Tamim bin Hamad Al-Thani is the driving force behind Qatar's bid for #MUFC. Understand an outright purchase offer is expected to be tabled on Friday (& no earlier). It's been referred to as "strong" but, as reported, below the Glazers £6bn.
Although Qatar Investment Authority fully involved in discussions between stakeholders, & any bid is unified with government backing, still told a private fund will be the vehicle used. & understand if a bid is placed as expected, the group will likely make a public declaration.
There have been ongoing talks surrounding the approach for weeks now with both minority and outright purchases explored, and different structures discussed. It's been termed "a complicated process".