Man Utd braced for fresh Saudi royals takeover bid – offer must exceed $4billion
Manchester United are bracing themselves for a third takeover bid from Saudi royals.
United, according to a source close to the club’s hierarchy, have already rebuffed TWO approaches from the Arab nation’s ruling family – the second of which was a whopping £3billion.
On both occasions the Glazers, who have owned the Premier League giants since 2005, said they were not selling – at any price.
But while that position still stands, the recent decision of co-owner Kevin Glazer to put his 13 per cent stake in United – worth £270million – onto the New York stock exchange suggests it could be changing.
For one of the six Glazer siblings to publicly test the market in such fashion definitely brings the Saudis right back into the picture.
United, who host league leaders Liverpool this afternoon, may be in crisis on the pitch – but the Saudis, headed by Crown Prince Mohammed Bin Salman, still want to buy one of the globe’s biggest football clubs.
Richard Glazer, not involved in the hands-on running of United, may be simply cashing in his assets.
However, even if that is the case, should his surprise move prove a financial success, his four brothers and one sister could follow suit.
Before Glazer’s sudden announcement earlier this month, United’s share price was around $15. At close of play Friday, it was close to $16 – underlining some interest from new investors.
That means United’s present market value is $2.64billion – or just over £2billion.
Which represents a significant drop from their $3billion valuation before Ole Gunnar Solskjaer was handed the managerial reins on a permanent basis. Back in mid-April, shares stood at the $20 mark.
Dreadful form on the pitch – allied to a significant loss of Champions League revenue – is being blamed for the dip.
However, despite the obvious problems under Solskjaer, the United brand name remains massive.
A recent survey found one billion people worldwide have an interest in the club.
And City experts predict the Saudis – or any other prospective buyers – would need to cough up $4billion minimum to stand any chance of a successful takeover.
A leading financial analyst said: “If United are worth $2.64billion in terms of current share price, you’d be looking paying at least $4billion to buy out the Glazers.”
If the American owners want to listen to offers, that is.