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Qataris favourites to complete Man United takeover

Qatar-owned Nine Two Foundation are favourites to complete the takeover of Manchester United, reports RMC Sport.

Sheikh Jassim Bin Hamad Al Thani named his company to pay homage to the Red Devils’ class of 1992.

The Qataris have already tabled a €4.5 billion bid but are now willing to up their initial offer to €5bn.

Sir Jim Ratcliffe’s INEOS are also in the race to acquire the Old Trafford club.

However, Al Thani’s foundation have an edge over them as they have offered to clear Man United’s €580 million debt.

The Glazers are looking to sell the club within the next two to four months.

The two official bidders are expected to meet with the Raine Group in the coming weeks.

Both INEOS and Nine Two Foundation will be given access to the club’s financial and legal data.

The information will help them determine their binding and final offers.

Al Thani has plans to make Man United the biggest club on the planet.

Long-term and sustainable investment are the firm’s top priority for the club if the takeover goes ahead.

Despite being Qataris, the Nine Two Foundation insist they have no links to Paris Saint-Germain.

UEFA do not allow clubs under the same ownership to compete in any of their competitions.

PSG are owned by Qatar Sports Investment, a subsidiary of Qatar Investment Authority – the state-run sovereign-wealth fund.

Al Thani is the chairman of Qatar Islamic Bank, and it will be interesting to see how he proves that his foundation is not run by the country.