Manchester United owner Avram Glazer has held talks with Saudi Arabia and Qatar investors over the sale of the club.
United’s co-owner, who was in Doha for the World Cup, held talks with interested parties amidst a possible takeover of the club.
With United’s announcement that the club is up for sale, the interest of the world’s most affluent billionaires peaked, including sovereign funds.
Several parties have been reported to be interested in taking over the reins at Old Trafford, including Amazon and Sir Jim Ratcliffe.
Another is Indian billionaire sports supremo Mukesh Ambani, who views United as a gateway to popularizing Indian sports to the globe.
The reliable David Ornstein reports, “Manchester United co-owner Avram Glazer has held talks with potential investors during his trip to Doha for the World Cup, including from Saudi Arabia and Qatar.
“The nature of the talks between Glazer and the different groups he has met in Doha is not clear.”
Ornstein adds, “The Raine Group, who are acting as United’s exclusive financial advisor, is aiming for a full sale of the club in the first quarter of 2023 at a price between £6billion and £7bn.”
Beyond Saudi and Qatar investors, Avram also held talks with Dubai-based investment funds for a full sale of England’s biggest and most successful football institution.
Ornstein’s report is the first confirmation of substantial talks with an interested party with most others just being tabloids talk and speculation at best.
A few days ago, Glazer was quizzed on the progress of a sale of United and refused to definitively confirm what stage the process is at.
He also refused to disclose whether the family was searching for strategic investment, a partial sale or a complete sale.
The businessman only described the talks as proceeding progressively, on a step-by-step basis.