Premier League club Manchester United has reportedly emerged as an investment target for Saudi Arabian Crown Prince Mohammad bin Salman.
As per a report from The Sun, Manchester United could be set to for an ownership change, with Saudi Arabian prince Mohammad bin Salman interested in a potential takeover.
The Crown Prince of Saudi, whose family is believed to be worth around £850 billion, is one of the richest and most powerful men in the world and is understood to be keen to invest in a top European football club.
The report claims that the prince wants to take on Middle East rivals like the Abu Dhabi-based owners of Manchester City and Qatar Sports Investments group that own Paris Saint-Germain. And he is reportedly planning to sanction a bid by an individual or a move backed by the money of the oil-rich state to buy a stake in Manchester United, or ideally purchase the club outright.
Manchester United have been owned by the Glazer family since 2005, when they bought the club in a £790 million deal. The Premier League giants are currently valued at around £3 billion and the current owners would expect an offer at a significantly higher price in order to consider loosening their grip on such a huge asset.
Saudi Arabia has already made major investments in sports through deals with Formula 1 and WWE, while also investing in global brands like Uber and Tesla. And Manchester United seem to be on their radar up next. The club has links with Saudi Arabia already, having signed a deal with the nation’s Government not very long ago to help develop their football infrastructure.
Manchester United have also been official partners with Saudi Telecom since ten years and the Mancunian outfit’s co-chairman Avram Glazer is due in Riyadh next Tuesday, to attend a global investment conference along with key figures from the Saudi administration, where groundwork for the potential takeover could be laid.
The Glazer family is not very famous among Manchester United supporters. During their reign, the Glazers are believed to have taken more than £1 billion out of United, while leaving the club in massive debts. And a large section of the fans would be glad to see their backs.
However, an alternate report from the Mirror has claimed that the American owners have no intention of selling Manchester United at the moment. It remains to be seen if there is any truth to these reports, but should a deal come to fruition between the Glazers and Crown Prince Mohammad bin Salman, it would be on a massive scale.