MX23RW : Saturday, November 17 13:48:10

Manchester United set for £4bn takeover bid?

Man Utd set for £4bn takeover bid?
© Reuters
Saudi Arabia's Crown Prince Mohammad bin Salman is reportedly preparing a record-breaking £4bn takeover bid to buy Manchester United.

Saudi Arabia's Crown Prince Mohammad bin Salman is reportedly preparing a £4bn takeover bid to buy Manchester United.

United's current owners Joel and Avram Glazer are understood to have already indicated that the club is not for sale, but that has not deterred Bin Salman.

The oil-rich Saudi is thought to be worth around £850bn and hopes to rival Manchester City's Abu Dhabi owners as part of his vision to diversify his country's economy by 2030.

United were recently valued at £3.2bn by Forbes, and The Mirror reports that Bin Salman is ready to add another £800m onto his bid in an attempt to convince the Glazer family to sell.

However, United's owners are wary of entering any dialogue with Bin Salman due to the tense current diplomatic situation surrounding the death of Saudi journalist Jamal Khashoggi.

Avram Glazer had been due to fly out to Riyadh this week in order to attend an International Forum, but he is one of a number of high-profile withdrawals due to the situation surrounding Khashoggi's death.

The Glazers bought United for £790m in 2005, and would smash the previous record for the most expensive takeover should this proposed deal come to fruition.


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General view of Manchester United's Old Trafford taken August 2018
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