MANCHESTER UNITED IS FOR SALE
Football club Manchester United is on the market.
The club has long been regarded as Britain’s most valuable sporting asset and has been estimated to have more than 1.1 billion fans worldwide.
Just over three months ago, the current owners announced that they were exploring selling the club. The Glazer family are Americans and have not been fan favourites since they bought the team in 2005.
Ever since the announcement, a multi-billion dollar bidding war has erupted from individuals and businesses across the globe. The news also inflated the club’s share price to a 52-week high.
While there are many rumours doing the rounds, there are currently only two confirmed bidders. They are the British billionaire Jim Ratcliffe and Sheikh Jassim Bin Hamad Al Thani from Qatar.
Both Al Thani and Ratcliffe have confirmed their intent to buy the club in public.
CNN reports that parties from Saudi Arabia have also reportedly entered the race to own the club, while the US-based hedge funds Elliot Investment Management and Area Management Corp have submitted their own proposals to offer financing for a bid.
Although it’s not clear when the deadline for bids is, it’s believed that the buyer lucky enough to end up with the club under its name, will have to get unofficial approval from the club’s supporters as well.
The Glazer family hasn’t been popular with the fans and several protests have happened over the years since they bought the club.
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