Premier League giants Manchester United attract interest from all quarters of the world, and it seems that the Red Devils have caught the eye of a few Chinese investors, who are reportedly prepared to spend big money for a stake in the club
The club has been valued at a 2.8 billion by Forbes magazine, but the Chinese investors seem to be more than happy to pay something in the region of a 3.5 billion for a stake in Manchester United, according to Chinese daily . Titan. This report comes during Chinese President Xi Jinping’s visit to the UK, during which he has reiterated the importance of increasing sporting ties between the two countries.
The investors are expected to make the bid for Class B shares of Manchester United. The ‘normal’ Class A shares are listed with the New York Stock Exchange (NYSE), but the Class B shares owned by the Glazer family reportedly have ten times the voting power of the Class A shares, effectively ensuring they remain in control at the club. Thus, it seems as though the Chinese investors are interested in the decision-making process of the club.
However, the Chinese investors have apparently said that their interest in the club is purely economical. Earlier this year, another Chinese investor made his way into the world of football, with Wang Jianlin buying a 20 per cent stake at La Liga side Atletico Madrid, valued at a 45 million. It would be interesting to see how the club makes its way into the Chinese fan-base.