Sports
Manchester United Surprised by Saudi Chief’s Takeover Claims
Manchester United’s management reacted with surprise after Turki Al-Sheikh, a prominent Saudi figure, claimed on social media that a takeover of the club was nearing completion. His assertion caused a stir among fans and staff alike, despite the absence of any discussions about a sale.
On Wednesday, Al-Sheikh posted on his X account, stating, “The best news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell to a new investor. I hope he’s better than the previous owners.” This announcement came shortly after an interview with Sir Jim Ratcliffe, one of the club’s co-owners, who did not indicate any intention to relinquish control of the team.
Background on Ownership Talks
In March 2023, Sheikh Jassim and Ratcliffe engaged in negotiations with The Raine Group, which facilitated the sale of a significant portion of Manchester United on behalf of the Glazer family. Throughout these discussions, both parties expressed optimism, though Ratcliffe ultimately secured a minority stake in the club.
Sheikh Jassim had previously submitted a bid of approximately £5.5 billion for full ownership, which included plans to eliminate all of Manchester United’s debt and establish a separate fund dedicated to the club and its local community. Despite these intentions, his credibility was questioned during the process, particularly regarding his proof of funds. As of now, there are no indications that Sheikh Jassim will present a renewed bid.
Al-Sheikh’s Influence and Future Plans
Turki Al-Sheikh, who plays a significant role in Saudi Arabia’s entertainment sector through initiatives like Riyadh Season, has also made substantial investments in boxing, contributing to the sport’s resurgence in recent years. His influence extends to various sports and cultural events in the region.
In light of financial considerations, Manchester United may explore hosting a mid-season friendly match overseas to bolster revenue. Al-Sheikh is reportedly in discussions about staging such an event in Saudi Arabia. Ruben Amorim, a prominent figure associated with the club, emphasized the necessity of managing the club’s budget effectively, stating, “We have our fans, the budget. We have to compensate for a lot of things. We want to be with our fans around the world, so we will put it all together to do that.”
As Manchester United navigates the complexities of ownership and financial strategy, the club remains a focal point in international sports discussions, especially with the ongoing developments surrounding potential investment.
-
Health2 months agoNeurologist Warns Excessive Use of Supplements Can Harm Brain
-
Health2 months agoFiona Phillips’ Husband Shares Heartfelt Update on Her Alzheimer’s Journey
-
Science2 weeks agoBrian Cox Addresses Claims of Alien Probe in 3I/ATLAS Discovery
-
Science1 week agoNASA Investigates Unusual Comet 3I/ATLAS; New Findings Emerge
-
Science6 days agoScientists Examine 3I/ATLAS: Alien Artifact or Cosmic Oddity?
-
Entertainment4 months agoKerry Katona Discusses Future Baby Plans and Brian McFadden’s Wedding
-
Science4 days agoNASA Investigates Speedy Object 3I/ATLAS, Sparking Speculation
-
World2 months agoCole Palmer’s Cryptic Message to Kobbie Mainoo Following Loan Talks
-
Science4 days agoNASA Scientists Explore Origins of 3I/ATLAS, a Fast-Moving Visitor
-
Entertainment3 months agoEmmerdale Faces Tension as Dylan and April’s Lives Hang in the Balance
-
Entertainment4 months agoLove Island Star Toni Laite’s Mother Expresses Disappointment Over Coupling Decision
-
Entertainment2 months agoMajor Cast Changes at Coronation Street: Exits and Returns in 2025
