Qatar Holding denies united take over
Qatar Holding joined
Manchester United in
quashing rumours of a
takeover on Wednesday with
a source close to the Gulf
Arab state's sovereign
wealth fund saying no talks
had been held with the
English football club.
Premier League leaders
United have repeatedly said
the Old Trafford club was not
for sale but its high-yield
bonds rose to near record
highs on Tuesday on
speculation of a deal. "Qatar
Holding is not and has never
been in discussions to buy
Manchester United football
club. There is no truth to the
rumours," said the source,
speaking on condition of
anonymity.
While United have been
building a four-point lead in
the table as they seek a
record 19th league title, off
the pitch they have been the
subject of media reports
saying their American
owners, the Glazers, are on
the verge of selling up.
The owners are unpopular
among many fans with some
donning green and gold
scarves on match days in
protest at the debt the
Glazers have burdened the
club with.
The colours are those of the
Newton Heath works team,
United's predecessors, and
those wearing them are
disillusioned by what they
see as exploitation of the
club by foreign owners who
have raised ticket prices and
loaded United with debt.
SURPRISE MOVE
The Glazers, who bought the
club in 2005 for about £790
million, surprised fans in
November when a source
said they had agreed to pay
off a £220 million payment-
in-kind (PIK) loan from funds
outside the club.
A month earlier they had
ensured United kept hold of
England striker, Wayne
Rooney, who had turned the
spotlight on the Americans by
saying he wanted to leave
Old Trafford because the
club lacked clout in the
transfer market.
Rooney ended up signing a
five-year contract after
saying he had been
convinced to stay because
"the management, coaching
staff, board and owners are
totally committed to making
sure United maintains its
proud winning history".
Despite what could be seen
as moves by the Glazers to
court favour with the fans,
speculation has been rife
that they plan to sell and
rumours have centred on
Qatar Holding as the buyer.
In January, United denied
they had received an
approach from Qatar Holding
to buy the club and last week
a spokeswoman said "The
club is not for sale".
Manchester already has Arab
owners in town as
neighbouring City are owned
by Abu Dhabi's Sheikh
Mansour bin Zayed Al-
Nahyan who has made them
the world's richest club and
spent hundreds of millions of
pounds on players.
The tiny Gulf Arab state of
Qatar, the world's largest
exporter of liquefied natural
gas, in December won the
right to host the 2022 World
Cup finals.
Manchester United in
quashing rumours of a
takeover on Wednesday with
a source close to the Gulf
Arab state's sovereign
wealth fund saying no talks
had been held with the
English football club.
Premier League leaders
United have repeatedly said
the Old Trafford club was not
for sale but its high-yield
bonds rose to near record
highs on Tuesday on
speculation of a deal. "Qatar
Holding is not and has never
been in discussions to buy
Manchester United football
club. There is no truth to the
rumours," said the source,
speaking on condition of
anonymity.
While United have been
building a four-point lead in
the table as they seek a
record 19th league title, off
the pitch they have been the
subject of media reports
saying their American
owners, the Glazers, are on
the verge of selling up.
The owners are unpopular
among many fans with some
donning green and gold
scarves on match days in
protest at the debt the
Glazers have burdened the
club with.
The colours are those of the
Newton Heath works team,
United's predecessors, and
those wearing them are
disillusioned by what they
see as exploitation of the
club by foreign owners who
have raised ticket prices and
loaded United with debt.
SURPRISE MOVE
The Glazers, who bought the
club in 2005 for about £790
million, surprised fans in
November when a source
said they had agreed to pay
off a £220 million payment-
in-kind (PIK) loan from funds
outside the club.
A month earlier they had
ensured United kept hold of
England striker, Wayne
Rooney, who had turned the
spotlight on the Americans by
saying he wanted to leave
Old Trafford because the
club lacked clout in the
transfer market.
Rooney ended up signing a
five-year contract after
saying he had been
convinced to stay because
"the management, coaching
staff, board and owners are
totally committed to making
sure United maintains its
proud winning history".
Despite what could be seen
as moves by the Glazers to
court favour with the fans,
speculation has been rife
that they plan to sell and
rumours have centred on
Qatar Holding as the buyer.
In January, United denied
they had received an
approach from Qatar Holding
to buy the club and last week
a spokeswoman said "The
club is not for sale".
Manchester already has Arab
owners in town as
neighbouring City are owned
by Abu Dhabi's Sheikh
Mansour bin Zayed Al-
Nahyan who has made them
the world's richest club and
spent hundreds of millions of
pounds on players.
The tiny Gulf Arab state of
Qatar, the world's largest
exporter of liquefied natural
gas, in December won the
right to host the 2022 World
Cup finals.
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