Manchester United on the verge of a £1.5bn takeover:
One of the most famous names in English Football – Manchester United is the next target of Arabs. As United’s rivals Manchester City is already owned by an Abu Dhabi based billionaire Sheikh Mansour bin Zayed Al Nahyan. Following
this Qatar holdings, an investment house for the http://www.senore.com/Football-soccer/Qatar-c2986’s royal family are pursuing a £1.5billion takeover of Manchester United. Qatar has already achieved the privilege to stage the 2022 World Cup finals.
Qatar is not only targeting football in the country, but is the proud owner of numerous huge assets in http://www.senore.com/Football-soccer/England-c749 which includes the Harrods store, One Hyde Park, Shard of Glass and the US Embassy. Last week a foundation group in
Qatar led by the royal family bought the sponsorship rights of the Barcelona’s football shirt. It is pretty much evident from this move of the family of getting Qatar accepted as an international football brand.
Qatar holdings is the third largest shareholder in Volkswagen, a car making company and has a respectable stake in Porsche as well. Sheikh Hamad Bin Jassim Bin Jabr Al-Thani, who happens to be Qatar’s Prime Minister, is confidents
to diversify their portfolio of investments and sees the takeover of Manchester United as a huge acquisition and is hoping to bring some luck to the company. This is not the first time Arabs are looking keen to fund huge international projects overseas and
are set to put an end to the controversial Glazer family’s reign.
Manchester United’s fan base all around the world are looking certain to welcome the change of ownership with arms wide open as it will put an end to the Glazer regime which seized control for £790million in 2005. They burdened
£716m in debt against the club instigating the club’s fans globally who believe too much of the club’s income was being aimed at making huge interest payments. However the Glazer family did reduce United’s debt by paying back around £200m in PIK loans a few
weeks ago.
Many Manchester city supporters believe that this reduction in debt will make the Glazer regime deteriorate. There were even rumors of an overseas funding which was later off denied by Malcolm Glazer but now it’s looking a reality.
Red Knights, a group of fans of United did try to take over the club but backed off after realizing that Glazer wouldn’t settle for a bid around £1bn. However Qatar Holdings have accumulated around £2.5bn and unlimited funds for Sir Alex Ferguson to spend
in the transfer market. As the transfer window is about to open, this move can stabilize United’s funds and can allow them to lookout for exceptional talent in the transfer market.
So far Glazer family has denied any report of them leaving the club, but the stage looks set as the Glazer regime is about to come to an end with a huge profit margin. Qatar holdings are rumored to be in contact with Real Madrid,
Barcelona, http://www.senore.com/Football-soccer/Liverpool-c39809, Tottenham and Newcastle but Manchester United has always been their top priority.
There is still £525 Million unsettled debt left at Old Trafford, which as compared to the original figure of £750 Million set by the Glazer family looks to be highly profitable to them. Selling the club now is considered to be
the best thing to happen in years for United as it will make them highly stable in the market with no debt to clear. Manchester city, their rivals, with all their Arab investment behind them may find it hard to digest such a change and can prove to be a headache
for so many clubs.
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