Qatari royal family to make fresh 1.5 billion pound bid for Man UBy ANI
Friday, February 25, 2011
LONDON - The Al Thani family, the royal family of Qatar, is reportedly preparing a fresh 1.5 billion pound bid for Manchester United.
The family had tried to tempt the Glazers earlier this month with an offer of just over a billion pounds, but the bid was turned down by the Americans, who are holding out for closer to 1.8 billion pounds, the Daily Mail reports.
The renewed offer is partly motivated by rivalry with the Abu Dhabi royal family, who have invested millions of pounds to transform United’s arch-rivals Manchester City.
Manchester United is one of the wealthiest and most widely supported football teams in the world.
The club is said to be worth 1.19 billion pounds, making it the most valuable football club in the world.
After being floated on the London Stock Exchange in 1991, the club was purchased by Malcolm Glazer in May 2005 in a deal valuing the club at almost 800 million pounds. (ANI)