Saudi Crown Prince bin Salman considering Manchester United takeover bid - report
15 OCT 2018
Saudi Arabian Crown Prince Mohammad bin Salman is preparing to approach Manchester United’s [NYSE:MANU] owners, the Glazer family, about a partial buyout or potentially a full takeover of the UK Premier League football club, The Sun reported, citing unspecified sources.
The article cited the sources as saying that bin Salman, whose family's net worth is approximately GBP 850bn, could bid as an individual or with funds from a state-owned company.
The Glazer family holds an economic interest in about 80% of Manchester United, the article noted, with the remaining 20% in shares listed on the New York Stock Exchange.
Manchester United has a market cap of GBP 2.65bn (USD 3.49bn), after having earned a record GBP 590m (USD 776m) last season, the article added.