Man Utd takeover: Investors from Saudi Arabia join £5 billion race ahead of bid deadline
With the deadline for takeover bids at Manchester United edging ever closer, investors from Saudi Arabia are reported to have joined the race.
- Offers need to be made by close of play on Friday
- Several parties have expressed interest
- Many of those are based in the Middle East
WHAT HAPPENED? The Glazer family have opened themselves up to offers for the Premier League giants, with all formal bids needing to be on the table before the New York Stock Exchange closes on Friday. A number of interested parties are said to have already put their proposals forward – with the likes of Sir Jim Ratcliffe and Elon Musk reported to be keen on exploring takeover options.
THE BIGGER PICTURE: The Telegraph now reports that several groups in Riyadh have made enquiries about United and have signed for sale materials. Saudi interest has previously been shown in Chelsea, when they changed hands in 2022, while the nation’s £515 billion ($614bn) Public Investment Fund (PIF) is already involved with Newcastle United.
AND WHAT’S MORE: Saudi investors have also sought to buy into Manchester United before, but found that the Glazers were only interested in parting with a 20 per cent stake back then. They are now prepared to walk away entirely, with it suggested that a package worth £5bn ($6bn) would be enough to tempt them into a sale.