After the soft deadline imposed by the Raine Group (the investment bank facilitating the sale on behalf of the current owners, the Glazer family), there were two parties who went public with their bids: Sir Jim Ratcliffe and Sheikh Jassim Bin Hamad Al Thani.
The arguably less significant bid is that of Ratcliffe and his INEOS Group, as he is clearly desperate to own a Premier League club after his failed bid to buy Chelsea in Summer 2022. More importantly for the future of the Premier League is the second bid by Sheikh Jassim, who is the son of a former Qatari Prime Minister and the chairman of QIB (Qatar Islamic Bank), which reportedly retains assets worth a combined £42 billion. The Sheikh is purported to be a lifelong Manchester United fan and his ownership will be “debt-free”, overseeing investment in the “football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports”.
This would be another of the Premier League’s so-called “Big 6” to become majority-owned by Middle Eastern investors and the second in Manchester itself after City’s takeover by Abu Dhabi’s Sheikh Mansour in 2009. Moreover, Newcastle United is now also owned by a state, with the Public Investment Fund of Saudi Arabia controlling an 80% share.
Similarly, across world football there appears to a broader trend of welcoming Gulf investment and endorsements, after the controversial 2022 World Cup being held in Qatar and the Qatari ownership of Paris Saint Germain, among many other ownership groups and advertisement deals.
In the days preceding and immediately following the news of this bid there have been attempts from both those involved in the bid process and with PSG’s ownership (Qatar Sports Investment) to draw clear blue water between the two groups as UEFA prohibits owners from having controlling shares in two of its clubs. This may prove to be a stumbling block for this bid although there is certainly precedent in Qatar’s favour after Newcastle’s owners successfully proved separation in their takeover bid.
Whether for or against Gulf ownership and investment in football, it is inarguable that there is a growing acceptance of it within football’s governing bodies and it may be here to stay.