Saudi Arabia Crown Prince Mohammad bin Salman has dismissed reports he is on the verge of submitting a takeover proposal at Manchester United.
According to The Sun, a bid of £3.8 billion from the Saudi royal family to take control of the club from the Glazer family was supposedly due to come in before the end of the current season.
The Daily Mirror reports that United representatives have been in Saudi Arabia recently, which has fueled rumours of a major investment deal from the Crown Prince.
However, the kingdom’s media minister Turki al-Shabanah has responded to speculation on behalf of the royal family via Twitter, insisting that there is no truth to the rumours.
“Reports claiming that HRH the Crown Prince Mohammed Bin Salman intends on buying @ManUtd are completely false,” the Tweet reads.
“Manchester United held a meeting with @PIFSaudi to discuss sponsorship opportunity. No deal has been materialized.”
Reports claiming that HRH the Crown Prince Mohammed Bin Salman intends on buying @ManUtd are completely false. Manchester United held a meeting with @PIFSaudi to discuss sponsorship opportunity . No deal has been materialized.
— ???? ??????? (@TurkiAlshabanah) February 17, 2019
Man United’s current majority owners the Glazers spent £790 million to increase their stake in the club back in 2007 and if the Saudi’s were serious about a possible deal, the Americans would stand to make a huge profit on their initial investment.
The Red Devils have watched their arch-rivals Manchester City benefit from a similarly lucrative takeover from Sheikh Mansour over the last 11 years, which has given them the means to spend big money in the transfer market.
The Citizen’s have managed to win three Premier League titles during that period and they are fully focused on dominating English football for years to come, while United are still in the middle of a transitional period.
Brighter times seem to be around the corner for the club now, however, as caretaker boss Ole Gunnar Solskjaer has overseen a superb run of ten wins from 12 fixtures across all competitions.
United are a global superpower, with or without another takeover and although this story is an intriguing one, it is certainly not an essential eventuality for the club’s chances of more success going forward.