Qatar Capital Joins... EPL Manchester United Takeover Battle Intensifies

[Asia Economy Reporter Yoo Je-hoon] According to the British newspaper The Guardian on the 17th (local time), Qatari capital has entered the bidding for the acquisition of Manchester United (Man Utd), an English professional football Premier League (EPL) team.

According to the report, Sheikh Jassim bin Hamad Al Thani, chairman of Qatar Islamic Bank (QIB), is making the bid through his Nine Two Foundation. The Nine Two side released a statement saying, "Through this bid, we plan to restore the club's former glory," and added, "(Through the acquisition) we will completely eliminate debt and invest in the team, training center, stadium, and broader infrastructure and community."

Jassim is the son of a former Qatari prime minister and is said to have become a fan of Man Utd around 1992. The media analyzed that the name of the Nine Two Foundation was given for the same reason.

Meanwhile, it is also known that Jim Ratcliffe, founder of the British chemical company INEOS, submitted a bid before the deadline. Ratcliffe is also a long-time Man Utd fan and has shown interest in acquiring the club. The Guardian estimates the value of Man Utd to be at least about 4 billion pounds (6.2 trillion won).

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