rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Sports » Qatar Holding not in talks to buy Man United - source

Qatar Holding not in talks to buy Man United - source

February 16, 2011 17:42 IST

Qatar Holding, the investment arm of the Gulf Arab state's sovereign wealth fund, has not held discussions to buy Manchester United football club, a source close to Qatar Holding said on Wednesday.

The Premier League club's 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.

Media reports have said the Glazer family, the American owners of the club, are on the verge of selling the business and speculation has centred on Qatar Holding as the buyer.

In January, Manchester United denied they had received an approach from Qatar Holding to buy the club.

The Glazers bought United, one of the most famous soccer clubs in the world, in 2005 for about 790 million pounds stirring up a wave of protests from fans who feared they would load the club with too much debt.

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.

Source:
© Copyright 2018 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.