The Glazer family has signaled that they are open to the possibility of selling Manchester United, which has led to an increase in the number of potential buyers expressing interest in the club. This has caused the level of excitement to continue to rise.
Amancio Ortega, the owner of the Inditex empire, which owns the Zara fashion chain, is reportedly one of these potential suitors, according to Manchester Evening News's understanding.
Forbes estimates that Ortega, who is 86 years old and has a net worth of $61.3 billion, has communicated his interest in purchasing United to senior executives of the company. It is also believed that the technology giant Apple is investigating the possibility of acquiring the company.
In the meantime, the Minister of Sports of Saudi Arabia, Prince Abdulaziz bin Turki Al Faisal, stated that the Saudi Arabian government would support a private investor from the country if that investor were to make a bid for the ownership of the club.
He said, "We will absolutely support it if any [Saudi] private sector comes in," and that's exactly what he meant. "Because we are aware that this will have a positive impact on the sports scene throughout the kingdom. However, if there is an investor who is willing to do so and the numbers work out, then there is no reason not to."
Keep up with the latest information regarding the possible takeover of Manchester United, as well as the rest of the news.
The position of Saudi Arabia on the United takeover
Because of their investment in Newcastle, Saudi Arabia has stated that they will not support a state-backed takeover of United.
A Saudi-backed consortium completed the takeover of Newcastle United last year. As part of the deal, the Saudi Arabian Public Investment Fund (PIF), the country's sovereign wealth fund, purchased an eighty percent stake in the club, making it the majority shareholder at St. James' Park.
PIF are estimated to have a net worth of £320 billion, which places them approximately 13 times above the wealth of Manchester City's owners. However, despite their wealth, they are unable to purchase Manchester United from the Glazer family because they already hold a majority stake in Newcastle.
The value of United's club has increased by 260 million pounds.
This week, the Glazers made public their intention to consider offers for the business they own.
According to a statement made by a financial expert working for the investment platform Saxo, Anaam Raza, "Manchester United's club value has increased by £260million ($311million) off of the back of news that owners the Glazer family are willing to sell up." In the past twenty-four hours, the club's share price increased to £12.57 ($14.94), up from £11.09 ($13.18), which caused the club's market capitalization to increase from £1.78 billion ($2.12 billion) to £2.04 billion ($2.43 billion), bringing the total up to $2.43 billion.
"The announcement made yesterday has clearly filled investors with confidence, despite the turbulent tenure that the Glazer family has had as owners of the club, which appears to be coming closer to an end. The team has only won three major trophies since Sir Alex Ferguson left the club ten years ago, which has led to fan protests due to the lack of resources and direction at the club.
"The club's share price hit its lowest point since it joined the New York Stock Exchange in 2012 in July, prompting calls for the Glazers to step down once more," the article states.
"Their announcement yesterday coincides with the club parting company with star player Cristiano Ronaldo," who earlier this week analyzed the ownership and management of the club. "Their announcement yesterday coincides with the club parting company with Cristiano Ronaldo."
Manchester United supporters protest against the Glazers
Which club does Ronaldo intend to sign with next?
The most likely team to acquire Ronaldo's services is Chelsea.
Cristiano Ronaldo next club odds
5 and 2 for Chelsea
7/2 odds for Sporting Lisbon
Any Saudi Arabian Club: 6/1
Any Team in the MLS, Newcastle: 15/2.
9/1 for Bayern Munich and 10/1 for Real Madrid.
Ed Woodward is reportedly "in the running" to advise a prospective buyer.
According to the Daily Mail, Ed Woodward could provide consulting services to prospective United buyers.
According to the information presented in the article, the former executive vice-chairman of Manchester United "has been approached by groups seeking to buy the club" and asked to act as a consultant for their possible acquisition of the team.
It has been suggested that Woodward "would be an invaluable sounding board" for prospective buyers due to the fact that he worked for Old Trafford for 17 years and maintains an excellent relationship with the Glazer family.
After stepping down from his position on the United board of directors in February, Woodward is now free to work on the deal.
A remodeled Old Trafford could make a takeover of the club more appealing, in the author's opinion.
The rivalry between Manchester United and Liverpool is one of the most legendary and well-known in all of English football, and it is also one of the most romanticized. Due to the fact that they are played between the two most successful clubs in terms of both their history and their fanbase, these two matches continue to be considered the most important ones in each and every Premier League season.
But over the next couple of months, the next chapter of the rivalry will involve both clubs being up for sale at the same time, placed on the market by American owners ready to cash out for enormous profits. This will be the beginning of a new phase of the competition.
After Fenway Sports Group (FSG) announced their plan to seek new investment or sell up at Anfield, the Glazers followed suit on Tuesday by making a public proclamation that they were open to similar interest at Old Trafford. This announcement came a couple of weeks after FSG announced their intention to seek new investment or sell up at Anfield.
Takeover bid would receive "unqualified support" from Saudi Arabia.
Prince Abdulaziz bin Turki Al Faisal, who is the minister of sports in Saudi Arabia, has revealed that the state of Saudi Arabia is willing to support a private investor from the country if that investor wishes to compete for the ownership of United.
He explained that the Premier League is the "most watched league" in the region, and that as a result, the government of the Arab nation would "definitely support" any attempt by businesspeople from the Arab nation to purchase a giant football team from England.
After a reign of 17 years, the Glazer family has announced that they will "explore strategic alternatives for the club," as was stated on Tuesday. Avram Glazer also stated on Thursday to a reporter from Sky Sports that "the board went through a process and it has decided that it is going to look at different strategic alternatives and that is what we are doing."
Every conceivable new owner of Manchester United is broken down here.
Following the confirmation that the Glazers intend to sell their share in the Red Devils, Manchester United supporters may soon get the news that they have been hoping for over the course of the past several years.
Fans of Manchester United have taken to staging regular demonstrations in response to the failure of the club's American owners to make adequate investments in the playing squad and other aspects of the club's infrastructure, such as Old Trafford, during their tenure as majority shareholders in the organization. United fans have endured a period of misery as a result of the club's inability to win the Premier League for the past ten years, having won only three major titles since Sir Alex Ferguson left the club, and falling further behind the club's competitors.
But on Tuesday, the club released a statement saying that the Glazers were looking to head down a 'different strategic route,' which would result in the sale of the club. The statement also said that the Glazers were looking to sell the club. But who are some of the names that have been bandied about as possible successors to the controversial owners? This article by MEN's Sport takes a look at the people who have been linked.
Sir Jim outside the Lowry Hotel in Salford
A takeover bid for Manchester United would receive "unqualified support" from Saudi Arabia.
Prince Abdulaziz bin Turki Al Faisal, who is the minister of sports in Saudi Arabia, has revealed that the state of Saudi Arabia would provide financial assistance to a private investor from the country if that investor made an offer to purchase Manchester United.
He explained that the Premier League is the "most watched league" in the region, and that as a result, the government of the Arab nation would "definitely support" any attempt by businesspeople from the Arab nation to purchase a giant football team from England.
After a reign of 17 years, the Glazer family has announced that they will "explore strategic alternatives for the club," as was stated on Tuesday. Avram Glazer also stated on Thursday to a reporter from Sky Sports that "the board went through a process and it has decided that it is going to look at different strategic alternatives and that is what we are doing."
Amancio Ortega, the founder of Zara, has expressed an interest in purchasing Manchester United.
The owner of the Inditex empire, Amancio Ortega, who also owns the fashion chain Zara, is reportedly considering making an offer to purchase Manchester United.
Forbes estimates that Ortega, who is 86 years old and has a net worth of $61.3 billion, has communicated his interest in purchasing United to senior executives of the company.
Following the announcement by Manchester United's owners, the Glazer family, that they would be open to selling the club, it is believed that technology giant Apple is also investigating the possibility of purchasing the club.
