Al-Sheikh claims Manchester United in advanced talks to sell club to new investor
(Courtesy : Getty Images)
Sir Jim Ratcliffe currently owns a 27.7% stake in the club.
The fascinating possibility of a new takeover attempt for Manchester United has been revealed by Saudi sports tycoon Turki Al-Sheikh.
On Wednesday night, Al-Sheikh, who is rumoured to be in negotiations with United regarding a possible friendly match during Riyadh Season, wrote on X that the team is prepared to sell to a new investor.
The Glazer family, United’s principal owners, sold 27.7% of the team to Sir Jim Ratcliffe for £1.25 billion last year, rejecting a buyout attempt by Sheikh Jassim Al-Thani’s Qatari consortium.
Saudi sports tycoon reveals United set for a new investor
However, the president of the General Entertainment Authority, which brings some of the most prestigious sporting events to Saudi Arabia, Al-Sheikh, wrote:
“The best news I heard today is that Manchester United are now in an advanced stage of completing a deal to sell to a new investor – I hope he’s better than the previous owners.”
It’s unclear whether Al-Sheikh’s comments are true or whether he is criticising Ratcliffe or the Glazers in his tweet, but by early Thursday morning, his comment had received nearly a million views.
It came after reports that, according to industry sources, United might earn up to £10 million if they can secure a trip to Saudi Arabia this season.
United look for friendly games to fill calendar gaps
The club are considering scheduling mid-season matches with Saudi Arabian teams as one of the options to cover schedule gaps and address a financial shortfall.
In addition to the £10 million owed to adidas under the conditions of a £900 million jersey sponsorship, United lost to Tottenham in last season’s Europa League final in Bilbao. That sole defeat cost them £100 million, as it led to them missing out on the Champions League.
After earning £8 million with a post-season visit to Kuala Lumpur and Hong Kong in May, United might make even more money from a trip to Saudi Arabia during Riyadh Season, which begins on Friday and lasts until March.
Who is Al-Sheikh?
He is the chairman of the General Entertainment Authority of Saudi Arabia.
Are Manchester United looking to sell the club to a new investor?
According to Al-Sheikh, the club are in an advanced stage of completing a deal to sell to a new investor.
Who is the current owner of the club?
The Glazer family is the current owner, while Jim Ratcliffe owns a 27.7% stake in the club.
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After earning a bachelor's degree in mass media, Rajarshi began his career as a sports writer in 2019, driven by his passion for sports journalism. He has been working in the field for over six years. A devoted fan of Lionel Messi and Barcelona, Rajarshi has been involved in sports since childhood. Before turning his focus to journalism, he even represented his college at the state level. Along with covering football, he enjoys playing the game, watching movies, and experimenting with new recipes in his spare time, as cooking is one of his favorite hobbies.
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