Qatar reported to plan huge bid for Manchester Utd


STORY: Qatari investors may be entering the race to take over English soccer giant Manchester United.

The Daily Mail newspaper says a huge bid is planned.

It didn't cite sources in the report, which says a group of wealthy individuals is involved.

New York-traded shares in the club surged over 16% following the news.

Media reports last month said Qatar Sports Investments was considering a bid for United or rival team Liverpool.

QSI is a state-backed body founded by Qatar's emir.

But any bid could face some big hurdles.

The fund already owns French team Paris St Germain.

And European soccer rules forbid any entity to own two clubs that could meet in competition.

Manchester United is currently owned by the Glazer family of sports investors from the U.S..

They said back in November that they were considering options including a sale of the club.

Fans have long wanted them out, protesting over years of under-achievement and the way the club has been loaded with debt.

Existing bidders include UK chemicals giant INEOS, owned by billionaire Jim Ratcliffe.


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