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Friday, April 12, 2024

Third time lucky? Saudi Crown Prince to try £3 billion takeover Manchester United

Amid the struggles of football club to maintain profitability, and losing out lucrative sponsorship deals, Crown Prince MBS wants to succeed in his third takeover bid on Manchester United. A tough task to convince the Glazers to sell Man Utd lies ahead of MBS. Will he succeed?

Crown Prince Mohammad bin Salman is to make a third takeover bid of more than £3billion. The Glazer family, who owns the football team, had rejected the previous two offers of takeovers from the Saudi royal family out of hand.

Last week, UK media had reported that co-owner Kevin Glazer is preparing to sell 13 percent shares in the club. He has converted his B shares into A shares, which implies that the shares are available on the New York Stock Exchange. The 20,899,366 A shares now owned by the Kevin Glazer Irrevocable Exempt Family Trust are worth about £270m at the current price.

Even the fans of Manchester United have voted in the favor of Saudi Monarch Mohammad bin Salman taking over the football club. In the recent polls held, a staggering 91% of participants voted in favour of Crown Prince while less than 9% of the participants had voted in favor of Glazers, the American owners of the club.

Read more: Manchester United named most valuable football team

Fans believe the takeover from ultra-rich Saudi family will turn over the fate of Manchester United with the likes of Timo Werner, James Maddison, and Kalidou Koulibaly signed.


Even if Kevin Glazer is convinced to sell stakes, Crown Prince MBS will have to convince Avram, Joel, Bryan, Edward and Darcie Glazer to cash in their stakes.

Glazer family had purchased the United for £790million 14 years ago but saddled the club with huge debts. Despite falling share price, the club is still said to be worth £3bn. The shares prices dropped after Chevrolet refused to renew a 450 million euro shirt sponsorship deal. Other sponsors are also expressing agitation on the team’s continued dismal performance.

Even several family members of the Glazer family are unwilling to hold interest in the Man United. It is this uncertainty in the family, which Crown Prince MBS hopes to take advantage of. He, however, is likely to face strong opposition from Joel and Avram Glazer.

Crown Prince Mohammad bin Salman is eager to purchase Manchester United, which has not won the premier title since 2012-13 and twice made attempts but the matter was put aside following the murder of journalist Jamal Khashoggi.


If MBS succeeds in the third attempt, the Glazers would earn a mighty profit, earning three billion euros in return of 790 million euros paid for the club in 2003.