Home NEWSSports News Saudi takes over Manchester United (Rumors)

Saudi takes over Manchester United (Rumors)

by Prospero
Saudi takes over Manchester United (Rumors)

It had been mooted in some quarters that a takeover from the Middle East was imminent but there are currently no plans for the club to be sold.

There are no immediate plans for Manchester United to be sold to Saudi Arabian investors or any other buyer.

A flurry of recent speculation came in the wake of Group Managing Director Richard Arnold’s recent trip to Saudi Arabia and with the regular visits of United executives to the country, some reports indicated that a sale of the club was likely.

That impression was reinforced at the end of the summer transfer window when United brought in just three signings.

That lack of activity led to suggestions that the Glazer family was cutting costs and maintaining a positive cash balance in order to make the club more attractive financially.

owever, executive vice-chair Ed Woodward is ready to greenlight major purchases in January, with targets including Erling Braut Haaland, Jadon Sancho, Declan Rice and Mario Mandzukic.

Such longer-term planning reinforces the fact that there is no imminent sale on the cards. The frequent trips to Saudi Arabia can be explained by an existing commercial relationship between United and the kingdom.

United’s market valuation is currently set at $2.68 billion (£2.07 billion), and it would require a bid of around $4 billion (£3.09 billion) before the majority owners the Glazers would be seriously tempted to sell out. The recent proposed sale of Kevin Glazer’s privately-held shares will have little impact on the control of the club or the plans of the rest of the family.

You may also like

What do you have to say on this ?

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

%d bloggers like this: