Qatari royal Sheikh Jassim bin Hamad Al Thani manifested his dream of owning a football club so hard (creating sporting history with an insane $6.3 billion bid for Manchester United in 2023) that another opportunity has presented itself. This time, the target is Italian heavyweight Inter Milan via the investment firm Al Mirqab, where Sheikh Jassim holds a prominent role. This time, however, the approach is considerably more modest. Sheikh Jassim’s father (the former Qatari Prime Minister Hamad bin Jassim bin Jaber Al Thani, commonly known as HBJ) has already begun exploratory discussions to acquire a minority stake in Inter Milan, according to Tuttosport.
He is reportedly negotiating directly with the club’s current owners, the US investment fund Oaktree Capital Management. It is a classic case of ‘never say never,’ especially since HBJ once admitted he wasn’t a football fan and previously questioned his son’s Manchester United ambitions. Inter Milan is one of Italy’s most successful football institutions, valued at approximately $1.8 billion by Forbes. Even a modest 5% stake would cost the Qatari father-and-son duo over $110 million.
This is a far cry from the $6.3 billion Sheikh Jassim offered three years ago before losing the Manchester United bidding war to Sir Jim Ratcliffe. The Al Mirqab Group has been shopping in Milan recently, but on a distinctly billionaire scale. Earlier this year, the firm entered a major property transaction with Kering (the owner of Gucci, Saint Laurent, and other luxury labels), acquiring a whopping 80% stake in the historic edifice at Via Monte Napoleone 8, while Kering retained 20%. To secure this prime real estate, Al Mirqab paid Kering approximately $800 million upfront, with another $470 million due in five years.
The 67-year-old is worth almost $5 billion and owns a plethora of luxury assets, most notably the Al Mirqab superyacht, which stands as a towering symbol of his wealth. Interestingly, Sheikh Jassim approached Inter Milan in 2023 for a full takeover but dropped the idea when the asking price exceeded $1.3 billion. Now, his dream of investing in a major European football club appears to be within reach, and at a fraction of the price of his failed Manchester United bid.
