Font Size

- Aa +

Thu 17 Feb 2011 09:54 AM

Font Size

- Aa +

Qatar Holding denies $1.6bn talks to buy Manchester United

Media reports said deal had halted amid haggling over price of Premiership club, American owners deny talks

Qatar Holding denies $1.6bn talks to buy Manchester United
NO SALE: Uniteds owners 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, 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 £790m ($1.28bn) 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.

For all the latest sports news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.