The Glazer family are willing to sell Manchester United for £3.75b amid increasing pressure to sell the club, according to reports.
Several fan protests have happened since the start of the current season, as supporters join Gary Neville in pleading with the American family to hand over the keys to Old Trafford, having purchased the club for £790 million in 2005, loading it with debt through a leveraged buyout. Sir Jim Ratcliffe, Britain’s richest man and a boyhood fan, recently made headlines by expressing desire to buy his favourite club, and now Dubai moguls are reportedly considering a bid.
It was widely speculated that the Glazers were considering selling a small ownership in the club, but now a price tag for a full acquisition has emerged for the much-maligned Glazers to part ways with their prized assets after 17 turbulent years.
According to the Daily Mail, nearly £3.75b would enough, though it may take up to £5b. That figure would be difficult for most potential owners to come up with, but it is well within the range of a sovereign wealth fund, with Dubai set to join the Premier League party. The Emirati state is still yet to join the Premier League, unlike its neighbors Abu Dhabi and Saudi Arabia, which have Manchester City and Newcastle in their portfolios, but United may tempt them.
Is Sir Jim Ratcliffe Interested In Buying Manchester United?
Ratcliffe, who owns INEOS and Nice in France, expressed his interest in the Red Devils more than three weeks ago. “If the club is for sale, Jim is definitely a potential buyer,” a representative for the Lancashire-born chemical tycoon told the Times. If something like this was possible, we would be interested in talking with a view to long-term ownership.
“This is not about the money that has been spent or not spent. Jim is looking at what can be done now and, knowing how important the club is to the city, it feels like the time is right for a reset.”
Related: Who Is Sir Jim Ratcliffe? Describing Man United’s Potential Owner
Manchester United Supporters’ Trust (MUST) responded to Ratcliffe’s interest with their own statement: “Speculation is mounting about a potential change of ownership or new investors at Manchester United.” Whilst supporters have called for change, of course, this has to be the right change.
“Any prospective new owner or investor has to be committed to the culture, ethos and best traditions of the club. They have to be willing to invest to restore United to former glories, and that investment must be real new money spent on the playing side and the stadium.
“Finally, any new ownership structure must embed supporters, including a degree of fan share ownership, in their operating model. These are the criteria supporters will judge any bid on. We are open to dialogue with any bidder, and look forward to any such discussions.”
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