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Qatar & Saudi Investors Reportedly Bidding to Buy Manchester United

Manchester United is being sought after by buyers in both Saudi Arabia and Qatar, according to verifiable multiple reports.

The interest is consistent with the goals of the Gulf nations’ economies and sports. A Qatari consortium is reportedly putting together a $6 billion offer to acquire Manchester United, according to Bloomberg on Thursday.

According to the source, the group includes Hamad bin Jassim bin Jaber Al Thani, a former head of the Qatar Investment Authority and a member of the royal family. On Thursday, “private organizations” in Saudi Arabia formally inquired about purchasing the club, according to The Telegraph.

The news comes after the Glazer family’s declaration that the venerable English soccer team was up for sale in November. About $130 million was lost by Manchester United during the fiscal year that ended in June 2022.

According to news sources from the time, the club cited COVID-19 constraints for match cancellations, rising utility costs, and the devaluation of the British pound.

According to the economic diversification effort known as Vision 2030, Saudi investors are shown a greater interest in sports. Newcastle Football Club was acquired by the Saudi Public Investment Fund in 2021. Also participating in the English Premier League is Newcastle.

The LIV Golf league was introduced by the Public Investment Fund last year. In January, the breakaway rivalry obtained a TV agreement. When Cristiano Ronaldo, a soccer superstar from Portugal, joined the Al Nassr team in Riyadh in January, the Saudi Arabian league achieved a major victory.

Qatar has aspirations in the sport of soccer and hosted the World Cup last year. This was the first time the competition was held in a Middle Eastern nation. Saudi Arabia is currently vying to host the World Cup in 2030.

Source – Tru News Report


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