According to reports, UEFA appears ready to approve Qatar’s acquisition of Manchester United, despite the apparent conflict of interest it may create in the Champions League. Qatar Sports Investments (QSI), a subsidiary of the state’s sovereign wealth fund, Qatar Investment Authority (QIA), has owned Paris Saint-Germain (PSG) since 2011.
A group of Qatari investors, along with the Raine Group, are reportedly ready to express their interest in acquiring United, with the auction bank expecting the first bids this week.
Read more: Qatar in talks to acquire UK’s Tottenham for USD1.66 bn
As the sole public bidder thus far, Jim Ratcliffe, a British petrochemicals billionaire, has enlisted Goldman Sachs and JP Morgan Chase to assist him in pursuing his potential acquisition.
The Qatari bid, on the other hand, appears to be more likely to come close to the £5 billion ($6 billion) price the Glazer siblings are willing to accept for the club and is reportedly being encouraged by Sheikh Tamim bin Hamad Al-Thani, the Emir of Qatar.
The Gulf country has no desire to acquire a minority stake, as it also intends to modernize the training facility and rebuild Old Trafford, which could add £1.2 billion ($1.45 billion) to its initial investment.
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