This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
OK
Dublin: 8 °C Wednesday 20 November, 2019
Advertisement

Saudi Prince distanced from €4.3bn takeover attempt at Manchester United

Talk of Crown Prince Mohammed bin Salman readying a big-money offer to claim power at Old Trafford has been played down.

Saudi Crown Prince Mohammed bin Salman.
Saudi Crown Prince Mohammed bin Salman.
Image: ABACA/PA Images

PRINCE MOHAMMED BIN Salman’s rumoured interest in buying Manchester United is false according to a denial issued by one of his ministers in Saudi Arabia.

A report by The Sun claimed Bin Salman was readying a £3.8 billion (€4.3bn) bid – a deal that would give the Glazer family a huge £2.2bn (€2.5bn) profit on the club they controversially acquired for £790 million (€901 million) in 2005.

With the Glazers having struggled to win over the support of fans throughout their time in charge of United, takeover speculation has surfaced at regular intervals.

Prince Mohammed bin Salman is the latest to have been linked with an effort to wrestle power from the current American ownership in Manchester.

A tweet from Turki Al-Shabanah, the minister for Saudi media, has admitted to a meeting taking place between United representatives and the Gulf state’s royal investment fund, but only to discuss a potential sponsorship tie-up.

“The news that Prince Mohammed bin Salman desires to acquire Manchester United is completely untrue news,” Al-Shabanah’s tweet read.

“The fact of the matter is that the club held a meeting with the public investment fund to discuss an advertisement sponsorship project.

“The Fund listened to the proposals as [it would] any other”.

In October 2017, United agreed a strategic partnership in Saudi Arabia with the country’s General Sports Authority (GSA).

United also have a commercial partnership with Saudi Telecom and, at the time of the GSA deal, United’s group managing director Richard Arnold said,”the club has a long-standing relationship with Saudi Arabia and has over five million passionate fans in the region.

“Having the chance to help shape the football industry in the Kingdom is a great honour and it is something where we believe we can make a big difference.”

Subscribe to our new podcast, The42 Rugby Weekly, here:

  • Share on Facebook
  • Email this article
  •  

About the author:

The42 Team

Read next:

COMMENTS (5)

This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a commentcancel