The source of the failed £1.5 billion bid for Manchester United has been linked to Qatar.

Experts in the region last night speculated that the most likely candidates would be the state-backed Qatari investment fund, which owns a large stake in Sainsbury's, or Prince al-Waleed bin Talal, a member of the Saudi royal family who owns the Savoy Hotel in London.

Richard Thompson, the editor of the Middle East Economic Digest, told the Guardian: "Qatar has for a number of years been looking to raise its profile, commercially, economically and politically, and they are very wealthy because they have been riding the boom in gas prices.

"They have a very aggressive investment approach and have been diversifying their revenue stream. Plus they are bidding to stage the 2022 World Cup, so clearly they have an interest in football. They have been building their presence in sport and host tournaments in tennis, cycling and golf, so they would be the prime candidate."