Qatar owns Paris through its sovereign wealth fund Saint Germain, and UEFA does not allow more than one club. Nevertheless, Qatar is now following suit Manchester United – and could circumvent the rules.
In the regulations of the UEFA there is a passage on the ownership structure for the clubs. “To protect the integrity” of the UEFA club competitions – i.e. Champions League, Europa League and Europa Conference League – the following applies: “No person or entity may have control or influence over more than one participating club”which is based on example “the majority of the voting rights of the shareholders” relates.
So should Qatar buy Manchester United, the emirate would have to relinquish sole control of Paris Saint-Germain – unless the rules are served some other way. And that could be the plan.
The Emir’s brother is not a member of the government
Paris Saint-Germain has been owned by the “Qatar Sports Investment” a subsidiary of Qatar’s sovereign wealth fund. However, the current bid to buy Manchester United does not come from the official purview of the state or its sovereign wealth fund – but from a foundation. The foundation “Nine Two Foundation” – which had no public presence until the bid – belongs to Sheikh Jassim bin Hamad Al Thani. This is the brother of Emir Tamim bin Hamad Al Thani.
Jassim bin Hamad Al Thani is a banker and chairman of the “Qatar Islamic Bank“One public reference to the government is that the sovereign wealth fund owns 17 percent of the bank’s shares. But the possible new owner of Manchester United has no official position in the Qatari government, although his brother is the head. A reference to Paris Saint-Germain and its owners do not officially exist.
This could be the trick used to convince UEFA of the legitimacy of the two clubs’ ownership if the deal is made.
Red Bull – UEFA allowed Salzburg and Leipzig to participate
In the case of Red Bull, UEFA decided in 2017 that clubs Red Bull Salzburg and RasenBallsport (RB) Leipzig could both take part in UEFA competitions. The clubs have very similar logos with a close resemblance to the corporate logo, the same stadium names, similar mascots, remarkably large overlaps in the transfer market and, above all, the same main sponsor: Red Bull.
However, both clubs had made “significant changes” in management and structure so that the regulations were met, UEFA said at the time. At the same time you become the clubs “continue to monitor to ensure integrity requirements are met”.
In another case, in the late 1990s, UEFA ruled that Slavia Prague and AEK Athens were not allowed to play at the same time. The company ENIC owned shares in both clubs.
Red Bull vs. RasenBallsport in Europa League 2018
Ratcliffe also wants Manchester United – and has a similar problem through OGC Nice
Qatar is not the only bidder facing such questions. Sir Jim Ratcliffe, a Monaco-based British billionaire who heads chemicals group Ineos, also confirmed a bid for Manchester United. Ineos will for one “majority interest” offer, it said in a statement. You want the club “to make number one in the world again”. However, the Ineos company already owns 100 percent of the shares in the French first division club OGC Nice, which is currently taking part in the Conference League. So Ratcliffe will raise similar questions as the Qatari bid.
It is not yet known whether other bids have been received in addition to those from Ratcliffe and Jassim bin Hamad Al Thani. A deadline for submitting bids passed on Friday (02/17/2023).
Purchase price of up to six billion euros under discussion
It will definitely be expensive: The Glazer family from the USA, which currently owns Manchester United, expects four to six billion euros. Manchester United is considered one of the most valuable sports brands in the world. Father Malcolm Glazer, who died in 2014, paid a total of £790m to take over Manchester United in 2005. The majority in PSG cost Qatar just 30 million euros in 2011.
In England in particular, the market is on the move: Chelsea was recently sold, and Liverpool owners are currently looking for buyers. For Tottenham there should be a bid of more than four billion euros. Newcastle United has been owned by Saudi Arabia’s sovereign wealth fund since 2021.
LGBTQ+ fan club: “We are very concerned”
Human rights violations in Saudi Arabia did not stand in the way of the approval of the takeover by the Premier League, and Qatar is also repeatedly criticized for the human rights situation in the country, for example because homosexual acts are punishable.
The Fan Club”Rainbow Devils‘, which represents fans from the LGBTQ+ community, released a statement calling for “that any bidder wishing to buy Manchester United must commit to making football a sport for all, including LGBTQ+ fans, players and staff”. The fan club added: “We are therefore very concerned about some of the bids that are being made.”
Manchester United in decline for years
Many Manchester United fans protest during games for a replacement of the Glazer family. United won their last championship in 2013, and the Champions League most recently in 2008. In recent years, the team has increasingly been part of the second-rate Europa League.
In addition to the sporting decline, the protesting fans above all criticize the club’s increasing debt, which amounted to around 500 million pounds in 2022. A potential buyer would have to shoulder other expenses in addition to the purchase price. Modernizations are needed at the stadium, new players are needed in the squad, and a new training ground has been under discussion for some time.