Ever since they won the right to stage the 2022 World Cup, Qatar has been looking for a Premiership club for their trophy cabinet. Manchester United would be the ultimate trophy, particularly given that another emirate, Abu Dhabi, already owns Manchester City.
Talks started last month with an investment group owned by the Qatari royal family. However, they were put off by the high price demanded by the Glazers. They wanted £2bn, whereas Qatar Holdings was prepared to pay £1.5bn max, and arguably that is an over valuation.
Ever since they won the right to stage the 2022 World Cup, Qatar has been looking for a Premiership club for their trophy cabinet. Manchester United would be the ultimate trophy, particularly given that another emirate, Abu Dhabi, already owns Manchester City.
Talks started last month with an investment group owned by the Qatari royal family. However, they were put off by the high price demanded by the Glazers. They wanted £2bn, whereas Qatar Holdings was prepared to pay £1.5bn max, and arguably that is an over valuation.
No doubt the Glazers think that Qatar is loaded which in one sense it is. Its huge wealth comes from natural gas, but it has invested wisely commercially, buying Harrods last year. It also owns One Hyde Park, the new super luxury apartments for the global mega rich.
Nevertheless, it’s likely that Qatar will come back with a higher offer which would be difficult for the Glazers to refuse. £1.6bn – £1.7bn might do it: $2.5bn would be just under £1.6bn at current exchange rates. The Glazers may even be beholden to Qatar as there have been unsubstantiated claims that the cash to pay off their high-interest loans came from there.