Manchester United: Qatar's Royal Family is Preparing Massive Takeover Bid

Manchester United: Qatar's Royal Family is Preparing Massive Takeover Bid

Qatar Holdings, an investment group for the Qatar Royal Family, could shortly be confirmed as the new owners of Manchester United, The Mirror reports.

The British tabloid, which broke the news regarding Wayne Rooney wanting out earlier this fall, claims it has exclusive knowledge that Qatar Holdings is preparing a bid worth 1.5 billion pound sterling for the Premier League giants.

This would be a huge payoff for United's current owners, the Glazer family, who bought the club for 790 million pounds in 2005. The Americans enraged United fans for amassing a debt of more than 700 million pounds, but has previously resisted other takeover bids despite their unpopularity.

The Qatari Royal Family, who has set aside a budget of 2.5 billion pounds to purchase the club, is prepared to erase United's massive debt and provide manager Sir Alex Ferguson with unlimited transfer funds.

by, Peter Missourri