By Senad Karaahmetovic

Qatar-based traders are getting ready a bid for the legendary soccer membership Manchester United (NYSE:), in accordance with a report in Bloomberg Information right now.

The consortium of traders primarily based in Doha is engaged on a bid that shall be tabled by the top of the week. Buyers are receiving assist and assist from officers at Qatar Funding Authority (QIA).

New York-based Raine Group is advising the Glazer household, which owns the membership. The financial institution set February 17 as a deadline for bids. A number of experiences from final week famous that the financial institution expects no less than 5 critical bidders to return ahead. Solely Jim Ratcliffe, the British billionaire, confirmed his intention to purchase Manchester United.

Qatar Sports activities Investments, a separate Qatar-based entity, already owns the French membership Paris Saint-Germain. UEFA, Europe’s high soccer governing physique, doesn’t permit two golf equipment owned by the identical entity to compete in Europe’s greatest competitions.

Bloomberg experiences that no remaining determination has been taken about which Qatari entities will in the end present capital for the Manchester United bid.

Manchester United shares are up an extra 5% in pre-open Monday.