Al-Sheikh claims Manchester United in advanced talks to sell club to new investor
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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.
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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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