Saudi Royal family to buy United? The current owners, the Glazers do not intend to sell the club to Middle-East’s billionaires.
In recent days, there have been rumors circulating that Saudi Arabian Crown Prince Mohammed bin Salman is looking to purchase Manchester United from the Glazer family of the United States with a 4 billion pounds bid.
However, it has now been reported by the Guardian that the Manchester United owners have no intention of selling the club.
It is also reported that Avram Glazer, the co-owner of the Red Devils has now pulled out of the deal after diplomatic tensions caused with investors of Saudi Arabia regarding an upcoming investment before the killing of journalist Jamal Khasoggi at the consulate of Saudi Arabia in Istanbul recently.
The Manchester United hierarchy is clearly not interested in a change of ownership, which may even include a stake going in favor of the Saudi Prince. But after the opening news about the potential sale, Manchester United’s shares hit an all-time high of $27.65 in the New York Stock Exchange and Forbes valuing at around 3.2 million pounds.
The Glazers have been owners of Manchester United since 2005 but have had an era that has been marred by huge ups and downs, including some questioning against them due to them taking over a club and leveraging it in a debt of 500 million pounds at the time, which late amounted to nearly 1 million pounds after interests, dividends and other fees had to be repaid.
But as things stand, the six Glazer siblings who have been owning the club since their father’s death in May 2014 have no intention of immediately selling it.
