Man Utd braced for third Saudi takeover bid as Glazers drop hint sale stance has changed | Football | Sport
Manchester United have already rejected two approaches from Saudi royals who are interested in completing a takeover.
However, the Glazers, who have co-owned United since 2005, have been adamant they are not willing to sell their combined 90 per cent stake in the club.
Following the death of Malcolm Glazer five years ago, the American gave his control of the club to his six siblings, with Joel and Avram Glazer currently involved in the day-to-day running of United.
And according to the Daily Star, the siblings weren’t even tempted to sell by a £3billiion bid from the Saudi royals.
However, one of the six Galzer siblings is reportedly looking to jump ship and sell his stake in the club, which the Daily Star claim will bring the Saudis right back into the picture.
The American has converted his class B shares into class A shares, which will allow him to trade them on the New York Stock Exchange.
And that report claims the only reason for doing this would be with a view to selling them.
United’s present market value is $2.64billion (£2.03bn) but this is considerably less than than the $3bn (£2.31bn) the club was worth when manager Ole Gunnar Solskjaer began his tenure at the club last December.
Initially Solskjaer had a great run in charge and United only suffered one defeat in 17 matches.
But following his appointment as the club’s permanent manager, the team’s form has dipped and by the end of the season they had missed out on qualification of the Champions League when they finished in 6th place.
Unfortunately for Solskjaer this campaign hasn’t gone much better, as United currently sit 14th in the Premier League and have only won two of their eight matches this season.
The Red Devils are now only one point above the relegation zone as they prepare to take on a Liverpool side who have yet to drop any points.
And while the Saudi royals might try and use the club’s current situation in their favour to try and secure a takeover, City experts told the Daily Star that any prospective buyers would need to table a bid of at least $4bn (£3.08bn).
A leading financial analyst told the publication: “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.”
However, if Kevin Glazer does sell his stake in the club, it is unlikely it will lead to his siblings quickly following suit.
This is because any prospective buyer would likely ask for guarantees that the other Glazers would not sell their shares for a specified amount of time, before buying his 13 per-cent stake.