Manchester United is once again at the centre of a takeover storm, with billionaire Turki Al-Sheikh suggesting the club is edging towards a sale, but the Glazers have a steep price-tag in mind
Joel and Avram Glazer pictured at Manchester United's Old Trafford in 2011
Joel and Avram Glazer pictured at Manchester United's Old Trafford in 2011
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The Glazers are open to offers exceeding £5billion for their stake in Manchester United, a figure that is more than double the club's current stock market value.
Rumours are swirling that Saudi billionaire Turki Al-Sheikh has initiated a takeover bid for United, following his social media post which read: "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".
However, to have a realistic shot at convincing the Glazers to sell, Turki would need to start his bidding around the £5.2billion mark.
The Florida-based businessmen took over United two decades ago in a deal worth £790million. The club's current valuation stands at £2billion, but the Glazers would demand a substantial premium reflecting potential future increases in United's value, as per the Mirror.
This would factor in the potential worth of United if the club proceeds with plans to construct a new state-of-the-art stadium.
One option available to the Glazers is to sell a portion of their 48.9 per cent stake in United in exchange for significant investment from Saudi sources to help finance the construction of the new stadium.
United executives announced plans in March to build a 100,000-seater stadium costing approximately £2billion, which would revitalise the surrounding area and rank among the world's best stadiums. However, it's understood that United are far from securing the necessary funding for this ambitious project.
The Glazers turned down a takeover bid by Sheikh Jassim Al-Thani's Qatari consortium in 2024, opting instead to sell 27.7 per cent of the club to Sir Jim Ratcliffe and his INEOS empire. Ratcliffe shelled out £1.25billion and was given the reins of football operations at Old Trafford.
United announced record revenues of nearly £670million in June, but have been compelled to make significant staff redundancies and are in dire need of a cash injection.
United have declined to comment on a potential deal with the Saudis, while Ratcliffe maintains his full commitment to the club.
Sir Jim Ratcliffe during the Premier League match between Manchester City and Manchester United
Sir Jim Ratcliffe has put the concept of a new stadium as a priority for himself and Ineos at Manchester United
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The Glazers continue to be actively involved with the club on a daily basis. However, there is nothing preventing them from negotiating a sale of their stake in the club, without informing other shareholders.
Turki, who has significant involvement in boxing, snooker, golf and UFC, took to social media to assert that United were in an 'advanced stage' of finalising a deal to sell to a new investor.
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