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.
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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.
https://twitter.com/Hejbie_UTD/status/1185879836465811461
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.
⚽️ #ManchesterUnited reportedly has a fan in Mohammad Bin Salman and if rumours are to believed, the Saudi crown prince is leaving no stone unturned in trying to buy the EPL giant. All this and more in our roundup 👇 #MBS #ManUtdhttps://t.co/yIDcrh4hf1
— Sportstar (@sportstarweb) October 20, 2019
Manchester United are expecting Saudi Crown Prince Mohammed Bin Salman to step up his efforts to buy the club after having a previous bid of almost $4 billion rejected. @mycoley09 @ruudvanemetulu pic.twitter.com/vp1eT84DVq
— Odemakpore Silver (@freetellinfo) October 20, 2019
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.
https://twitter.com/jamalblogs/status/1186598036564316160
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.