Saudi Prince Mohammed bin Salman is interested in buying Manchester United

bbc.co.uk

Trillionaire Saudi Prince Mohammed bin Salman, according to The Sun has renewed his interest in purchasing Manchester United from the Glazer family.

Bin Salman was the favourite to potentially purchase Newcastle United and wanted to fund a consortium to purchase the team from current owner Mike Ashley. But Ashley became unhappy with the lack of communication from the Saudi businessman.

Ashley wants £340 million in order for him to sell the club, but hasn’t yet received a firm offer and is said to be skeptical of the latest speculation.

The Saudi Prince has been linked with United and it’s rumoured he offered the Glazers around £3.5 billion for the club 18 months ago. But the Glazers have no interest in selling. The six children retain control of the club by owning shares which gives them more than 97% of the voting rights.

The Glazers also floated part of United on the New York Stock Exchange in 2012 and of the available shares which add up to just under 20 percent of the club, and four investment firms own significant chunks.

The current share price values United at more than £2.5 billion, but the Glazers have taken more than 1bn out of the club during their reign while boosting income to a record £590m last season. So all of these moves makes things more complicated for any interested buyer.

Most Manchester United supporters would love to see the Glazers relinquish control of the club. According to are recent poll by SunSport, 91 percent of United supporters would love to see the Glazers leave the club.

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