Manchester United are reportedly a subject of a massive £3.8 billion takeover bid from Saudi Arabia’s Crown Prince Mohammad bin Salman.
If reports from The Sun are to be believed, Manchester United could be set for a change of ownership before next season, as Saudi Arabian Crown Prince Mohammad bin Salman has expressed serious interest in buying the club from current owners, the Glazer family.
The Crown Prince of Saudi Arabia, whose family is believed to be worth around £850 billion, is one of the richest and most powerful men in the world. The 33-year-old, who is currently serving as the country’s deputy prime minister, has already made significant investments in WWE and Formula 1 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 – the Abu Dhabi-based owners of Manchester City and to that end, has made taking over Manchester United a top priority.
Reports in October last year had hinted that talks of a potential takeover of Manchester United had been underway and now as per the latest report from The Sun, Bin Salman has stepped up his interest, with a humongous bid of £3.8 billion believed to be in the pipeline, as he tries to convince the Glazers to sell the club.
Manchester United have been owned by the Glazer family since 2005, when they bought the club in a £790 million deal. During their reign, the Glazers are believed to have taken more than £1 billion out of United, leaving the club saddled with massive debts.
While a large section of Manchester United supporters would be happy to see the backs of the current owners, the Glazers themselves are believed to be uninterested in selling the club at the moment. However, an offer upwards of £3 billion – the 20-time English champions’ current value – could tempt them into considering their options.
The £3.8 billion figure mentioned in the report would largely depend on whether Manchester United are able to qualify for the UEFA Champions League next season. A deal is likely to be agreed only when safe passage for Europe’s premier competition is sealed. Should the Red Devils fail to make it through, the valuation would likely drop from the said figure.
A potential takeover would be a huge boost for Manchester United, while the fans too would be pleased to see the ownership change hands. It will be interesting to see how this story develops in the coming months.
