The world of soccer is buzzing with excitement as the deadline for the purchase of the legendary club, Manchester United, draws near. Merchant bank Raine Group, who is handling the sale of the club, has set Friday as the day for prospective buyers to present their initial offers.
As the clock ticks down to the deadline, reports indicate a bidding war is expected between several high-profile investors. The Qatar Royals, led by former prime minister Hamad bin Jassim bin Jaber Al Thani, are said to be putting the final touches on an opening bid of around $6 billion.
British billionaire Jim Ratcliffe has publicly confirmed his intention to bid for the club, but rumors are also circulating that tech mogul Elon Musk may make a surprise bid. The offer from the Qatar Royals has a technical angle, as the state-backed Qatar Sports Investments already owns French super-club Paris Saint-Germain FC, and UEFA rules prohibit two teams with the same owner from competing in major tournaments like the Champions League.
The current owners, the American Glazer family, purchased Manchester United in 2005 for $1.4 billion and will soon find out how much they can expect to receive after the bidding concludes.
As the excitement builds, shares of the soccer club have been on the rise. The market value of Manchester United reached $4.4 billion after the shares surged 5.9% in pre-market trading on Friday, following a 9.7% increase in New York on Thursday.
This deal has the potential to become the largest takeover of a professional sports club in history, surpassing the $4.65 billion paid by a group led by Walmart heir Rob Walton for the Denver Broncos NFL team last year.
Manchester United is a club with a rich history, having won a record 13 Premier League titles and boasting a roster of world-class players like Cristiano Ronaldo, Paul Pogba, and Zlatan Ibrahimovic. The outcome of this sale will have a major impact on the future of one of the biggest names in football.
As the deadline approaches, fans of the club and soccer enthusiasts around the world wait with bated breath to see who will come out on top in this highly anticipated takeover battle. Whether it’s the Qatar Royals, Jim Ratcliffe, Elon Musk, or someone else, one thing is for certain: the future of Manchester United is about to change forever.
