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"Talking to people..." - Journalist drops major update over Amazon's potential bid for Man Utd

Chris Byfield

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"Talking to people..." - Journalist drops major update over Amazon's potential bid for Man Utd

A journalist has dropped a major update on Amazon’s interest in purchasing Manchester United.

Last week controversial Man Utd owners, the Glazers, shocked the football and financial world by announcing they were exploring financial options that could include an outright sale of the club.

Investment bankers are said to be advising the Glazers on the process which is likely to include a full or partial sale or strategic partnerships with third parties.

There has since been reported interest from British Billionaire Sir Jim Ratcliffe, US-based venture capitalists, oil-rich Middle Eastern states and technology giants Meta and Apple.

Indeed, Apple CEO Tim Cook is reportedly keen to explore the opportunities owning Man Utd could provide and will line up talks with the banks appointed to oversee the sale.

Amazon bid?

According to the Daily Mail, Amazon poses as "credible" and "serious" suitors to succeed the Glazers at Man Utd.

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However, CBS journalist Ben Jacobs has claimed that the Jeff Bezos-owned Amazon, is “way off” the asking price for the club.

The Glazers took control of Man Utd in 2005 in a £790million deal, largely funded by debt.

According to the Telegraph, the American owners are looking for a price “comfortably in excess of £5billion”.

Jacobs told the Done Deal Show: “One thing I want to add on all of this is that talking to people close to Amazon, and also other investor groups, every single one says the same thing and I think this is really crucial, that the price being quoted is way off.

“So if it turns into a bidding war, that’s one thing and if the Glazers allegedly want £8billion, that’s another, but that’s never been my understanding.

“First of all, what you do is you set a price, that’s not a sale price, but it’s a yardstick price. and that yardstick price is a market valuation that can be assessed comparative to the Chelsea price, £2.3billion, all the way up to a prospective valuation of Manchester United now or in the future."

Featured Image Credit: Shutterstock

Topics: Football, Manchester United

Chris Byfield
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