BBC economics editor Faisal Islam suggests that the withdrawal of the Qatari bid to buy Manchester United may put the club in a position of catching up with state-owned teams.
The decision of Qatari banker Sheikh Jassim to step back from the process has allowed British businessman Sir Jim Ratcliffe’s Ineos Group to pursue a deal for a minority stake in the club, believed to be around 25%.
“Qatar has profited immensely from the gas price surge over the past year, so if they want to acquire one of the world’s premier cultural assets that is currently up for sale, they certainly have the means,” Islam explained on the BBC Radio 5 Live’s How To Buy a Football Club podcast.
“It’s understandable why the Glazers adopted a wait-and-see approach, hoping for an offer of £10 billion, as Qatar possesses such vast wealth and doesn’t even know what to do with it. There was always this standoff, and now it’s evident that Sheikh Jassim and the Qataris were not willing to pay any price for Manchester United. They were not interested in paying an exorbitant sum, and hence, they withdrew,” he added.
“If their attention were to turn to another club, it would leave United in a vulnerable position because there are now three or four state-owned clubs with oil and gas money and significant investment potential. United would have to compete with all of them,” Islam concluded.
Listen to the full episode on BBC Sounds
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Michael Johnson is your soccer guru, providing extensive coverage of soccer. With a global perspective, he delivers match reports, player interviews, and insights into the beautiful game, ensuring readers stay connected to the world of soccer.
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