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Home » Sport » Football

Utd denies £1.5bn bid

A Qatari consortium has reportedly offered £1.5bn to buy Manchester United from its current owners, the Glazer family.

The club denied that there had been any approach and reiterated that United was not for sale over the weekend.

But it is understood that Qatar Holding – an investment group controlled by the Qatari royal family – made its move shortly after the Arab state had secured the right to stage the 2022 World Cup finals.

Discussions are said to have broken down because of the asking price. The Glazers value the club at close to £2bn, which is more than the Qatar group – which recently agreed a record £125m shirt sponsorship with Barcelona – was initially prepared to pay.

However, football sources believe Qatar, keen to raise its profile still further in the game, will return with a higher offer.

The Glazers paid £800m for the club in 2005, the majority of which was provided by loans secured against the club's assets. The borrowings are now believed to stand at about £530m.

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