Qatari investors are set to make an offer for Manchester United Plc in the coming days, people familiar with the matter said, in a move that would cement the country’s desire to become a major player in global sports.
The Qatari consortium is preparing to submit an initial bid for the English Premier League football club by the end of the week, the people said. Officials at sovereign wealth fund the Qatar Investment Authority are helping with preparations for a bid alongside local family offices, one of the people said, asking not to be identified discussing confidential information.
Qatar Sports Investments, a separate entity to QIA, already owns French super-club Paris Saint-Germain FC. Regulations from European football’s governing body, UEFA, state that teams with the same majority owner can’t both compete in the region’s major tournaments, including the showpiece Champions League. QSI chairman Nasser Al-Khelaifi is also a member of the UEFA Executive Committee that adopts its regulations.
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