Saudi Arabian Crown Prince Mohammed bin Salman is stepping up his £3.8bn takeover bid of Manchester United. The royal hopes to become the new owner of the Red Devils by next season. The fact that United chiefs have been spending an increasing amount of time in Saudi Arabia, is directly related to that.
Now the Saudi royal, whose family are worth around £850 billion, hopes that the current owners, the Glazer family, can be coaxed into selling.
Sources around Old Trafford have denied talks of the Glazers selling. However, the insane sum being waved under their noses could be too good to turn down.
The American family purchased United for £790million almost 14 years ago. But since then, they have saddled the club with huge debt.
But it seems like it will work out pretty well for them if they do sell – making an astronomical £2.2billion profit.
The publication, SunSport first caught wind of Saudi interest back in October, and that buying the club outright was the top choice.
But those rumours were halted temporarily after the Crown Prince became embroiled in a diplomatic row.
The £3.8bn valuation is dependent on Ole Gunnar Solskjaer. To be more specific, if he can help Manchester United seal a berth in next season’s Champions League. A deal is unlikely to be agreed before their qualification is confirmed.
However, if United fall short, a compromise could likely be reached on a lower valuation.
Bin Salman, 33, reportedly wants to buy Manchester United to take on arch-rivals Man City. City are owned by Sheikh Mansour, a member of the Abu Dhabi royal family.
Buying into United would be a massive statement in the wider financial and political battles being fought between the Gulf states.
Bin Salman is the heir to the throne in Saudi Arabia, and is currently serving as the country’s deputy prime minister.
His work in developing greater equality between the sexes in his home country has been heralded worldwide, as has his move to make Saudi Arabia more attractive to visit for tourists.