Qatari sheikh may buy Manchester United

Lea Hogg 1 year ago
Qatari sheikh may buy Manchester United

Investment banker and investor, Sheikh Jassim bin Hamad al-Thani (photo above on right), is being named as one of two bidders in the sale of Manchester United Football Club.

Known for keeping a very low profile, Sheikh Jassim has a passion for football, supporting Manchester United. He has submitted his interest by bidding for the club. The sale of the Premier League club will set a new record price for a sports team.

One of two bidders

Manchester United is currently owned by an American family, the Glazers. They bought the club in 2005 in a leveraged buyout. The only other bidder for the club is British billionaire Sir Jim Ratcliffe.  The clubs fans are waiting anxiously for the outcome and it is reported that they were not very satisfied with the way that the Glazers were heading with the club.

Sheikh Jassim has promised to return Manchester United to its “former glory”. He has pledged to invest sustainably in the clubs players and its infrastructure. This will be done through an established vehicle called Nine Two Foundation.  Sheikh Jassim’s bid id debt free and the club is expected to be valued at around US $4.5 billion. This is a private bid and it has been made very clear that the deal will have no connection to the state of Qatar.

Sheikh Jassim bin Hamad al-Thani

Jassim bin Hamad bin Khalifa Al Thani was born in Qatar in 1978.  He is the second son of former Qatar prime minister Sheikh Hamad bin Jassim al Thani also known as HBJ. According to Forbes, his father’s wealth is recorded at US $1.3 billion, however in Doha it is rumoured that he is much wealthier than this. Sheikh Jassim was educated in the UK. He attended the Royal Military Academy in Sandhurst and the International College of Sherborne School in Dorset. He is a distant cousin of the current Emir.

He joined Credit Suisse in 2010 when he was 28. At the time he represented the interests of Qatari investors in the Swiss bank. Qatari had invested billions in the Swiss bank.  His former colleagues describe him as a quiet and low-key individual, one who never spoke during meetings. He is respected as being a very astute businessman.

He managed Mirqab Capital’s portfolio of family investments and the roles he holds now include chair of QInvest and Qatar Islamic Bank of which he is a majority shareholder.

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