Manchester United Braced For A Third Takeover Bid From Saudi Prince
Manchester United are reportedly bracing themselves for a third takeover bid from Saudi Crown Prince Mohammed Bin Salman.
Bin Salman, who is worth £850 billion, has tested the waters in the past with two offers - one of which was said to be a huge £3 billion.
The Glazers, Manchester United's owners since 2005 after a £790 million purchase, knocked back both approaches as they did not want to sell and though their stance is still believed to be the same, The Mirror say the club are expecting another approach from the Saudis.
The club have business ties to Saudi Arabia in the form of Saudi Telecom, the club's official telecommunications partner but there is talk that those links could strengthen in the near future.
Co-owner Kevin Glazer, one of six siblings in the family, recently put his 13 per cent stake, worth £270 million, on the New York Stock Exchange in a surprise move that indicates his desire to cut ties.
It's said his other family members, four brothers and one sister, still wish to retain their involvement in the club but the announcement that Kevin is looking to jump ship has already seen a slight increase in United's share price.
It sat at roughly $15 prior to the news emerging and rose to just short of $16 on Friday. There has been a drop from the $20 share price on the market since Ole Gunnar Solskjaer took the reins in March, however.
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What's more, United's market value stood at $3 billion when the Norwegian was appointed permanent manager and has now dropped to $2.64 billion (just over £2 billion).
The Saudi Arabia Crown Prince is trying really hard to save Manchester United and I'm here for that cause I'm tired :cry: pic.twitter.com/Obovrb3Xat- Bogota :crown: (@_KeithMwandia06) October 20, 2019
A dire run of football and the lack of Champions League football means United will suffer a fall in revenue for the first time in years.
In addition, United were recently told by sponsors Chevrolet, the club's current shirt sponsors since 2014, that the American company are ending their agreement when it expires in 2021.
The car manufacturing firm feel as though they have been 'massively overpaying' on their deal without getting much in return in terms of silverware.
Still, despite their recent struggles, financial experts reckon anyone looking to acquire the Old Trafford club would need to come in with a $4 billion offer at the very least.
United fans continue to voice their displeasure at the club's owners, with a 'Glazers Out' protest slated to take place prior to the visit of Liverpool today.
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