Investors from Dubai have reportedly been put on ‘red alert’ after Manchester United were put up for sale by the Glazer family.
The Red Devils issued a statement on Tuesday evening stating that they were “exploring strategic alternatives” for the club which could include outside investment or indeed an outright sale. It read: “Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club.
“The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially. As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.”
Any takeover would see the Glazer family’s 17-year spell in charge at Old Trafford come to an end. The Americans have been the recipients of severe criticism since their arrival at the club with protests having regularly been staged by the club’s supporters.
Immediately after the news was confirmed, thoughts turned to who would potentially be the next owners of the Red Devils but as it stands, no outstanding candidate has emerged. That could potentially change soon with a lucrative takeover bid from Dubai reportedly in the offing.
As per Arabian Business, investors from the Middle East nation are among the interested parties eyeing a takeover and have been put on ‘red alert’. Any deal is expected to cost a huge amount with recent reports suggesting that the Glazers could demand anywhere in the region of £6-£8 billion.
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Any deal that lucrative would see Man Utd become the most expensive Premier League side ever by eclipsing the £4.25bn that Todd Boehly paid for Chelsea earlier this year. One potential party that was also eyeing a swoop for the Blues was Sir Jim Ratcliffe but he was beaten to the punch.
His name has been mentioned recently and has never hidden his aspiration of owning the Red Devils at some point in the future. Speaking at a Financial Times Event, the INEOS owner said: “Manchester United is owned by the Glazer family.
"I have met Joel and Avram. They are the nicest people, I have to say, proper gentlemen. They don’t want to sell it.
“It’s owned by the six children of the father. If it had been for sale in the summer, yes we would probably have had a go following on from the Chelsea thing. But we can’t sit around hoping one day Manchester United will become available.”
Ratcliffe has also been linked with a swoop for Man Utd’s fierce rivals Liverpool. The Reds’ owners Fenway Sports Group announced their intention to sell the club earlier this month.
