Manchester United Not Being Sold To the Qatari Royal Family

True BlueCorrespondent IFebruary 11, 2011

United's new owner?
United's new owner?Julian Finney/Getty Images

The board of Manchester United and representatives of the current owners, the Glazer family, have taken time today to make it clear that they are not selling the club to the Qatari Royal Family.

Press speculation has re-emerged quoting unnamed sources from within the club and the Qatari House of Thani that makes it seemingly clear that a deal is very close to completion.

There is no doubt that the Qatari Royal Family has the funds to do a quick deal but the truth is to be found somewhere else.

It is in fact the Egyptian Army Pension Fund that has made a formal bid and is close to concluding a deal.

EAPF are now running to a tight deadline and a spokesman for the head of the fund, Mr H. Mubarak suggested that the head of the fund is looking at new opportunities in order to move out of Egypt in the coming weeks, if not days.

Money isn't a problem as the fund has built a cash pot running into tens of billions of dollars thanks to a generous annual subsidy from the US Government.

Whether this change of ownership will be welcomed by United fans is not yet clear, with those that were interviewed in Basingstoke, Beijing and Dallas unsure.