Manchester United takeover news: The club executives have met officials in Saudi Arabia over a potential takeover of Manchester United.
Over the last few months, the speculations regarding a takeover of Manchester United have gathered pace. It was reported by multiple media organizations in Europe as well as the Middle East that the Saudi Royal family is considering a takeover of the club.
The reports, it seems, are true as Avram Glazer, the co-owner of Manchester United is currently in the Middle East for talks of a potential change in ownership of the club.
The Saudi Football Federation confirmed that the president of the organization met with Manchester United’s co-owner Avram Glazer, and managing director Richard Arnold.
It is now being reported by Goal that the club could be subject to a £4bn takeover.
Manchester United takeover news:
Goal states that the ruling Salman family is interested in owning the club, and the bid could reach upto a massive £4bn.
However, the Glazers have given no indication about the sale of their shares, or if they are even willing to part with the control of the club.
Manchester United executives have met with officials in Saudi Arabia against a backdrop of speculation suggesting that the club could be the subject of a £4 billion ($5.1bn) takeover bid. #MUFC
— Isiah Madrigal (@Realisiah1) November 15, 2018
The Saudi Arabia Football Federation has confirmed that the executives from Manchester United are in the country, to discuss the cooperation between Manchester United and federation, and ways to improve it.
Avram Glazer and Richard Arnold have been busy in Saudi Arabia ahead of the Misk Global Forum on Thursday.
— Abdalla Ali Baar (@AbdallaAliBaar) November 15, 2018
“The president Qusai Alfwaz met Manchester United CEO and the Managing Director and talked about a lot of topics, about the cooperation between the club and the federation and how to improve that,” the statement, as posted by the official website of the Saudi Football Federation, read.
The Federation also posted a tweet confirming the presence of Manchester United’s co-owner Avram Glazer, and managing director Richard Arnold.
📄| رئيس الاتحاد السعودي يلتقي رئيس مانشستر يونايتد والمدير الإداري للنادي pic.twitter.com/9uCA2dkIjd
— الاتحاد السعودي لكرة القدم (@saudiFF) November 15, 2018
“President of the Saudi Federation meets the president of Manchester United and the managing director of the club,” the tweet read.
This is not the first time when a European football club would be funded by money from the Middle East.
A brief word on the photograph doing the rounds from Saudi Arabia yesterday evening. Avram Glazer and family aren’t actively looking to sell Manchester United, meeting is believed to be generally unrelated&planned for a while. The real desire is to secure an injection of cash..
— Chris Winterburn (@cmwinterburn) November 15, 2018
Manchester City and Paris Saint Germain have earlier benefitted from the Middle East. While Sheikh Mansour owns the current Premier League champions, Qatar-based ‘Qatar Sports Investment’ has invested in the French club.