Manchester United have been subject to numerous takeover bids since the Glazers announced that the club is open to takeover bids.
The latest reports suggest that Saudi Arabia has entered the race to acquire the Premier League club, with a bid already being tabled ahead of Friday’s soft deadline.
According to The Telegraph, multiple Saudi-based groups of investors have made formal inquiries to purchase Manchester United, competing with Qatar and British billionaire Sir Jim Ratcliffe for the takeover. This potential acquisition could be one of the biggest sporting deals in recent history.
The Saudi sports minister Prince Abdulaziz bin Turki Al-Faisal, back in November, admitted that the government would support any bid made by a Saudi-based private group for Manchester United.
The Saudi Public Investment Fund, which already owns a stake in Newcastle, is also said to be one of the potential bidders.
While Sir Jim Ratcliffe, who also owns a stake in French side Nice, and Qatari-based investors, which also owns French side PSG, are among the other two bidders.
The UEFA laws, which prohibit dual ownership of clubs participating in UEFA competitions, might pose a challenge for these potential bidders.
However, it is reported that the Manchester United bid would come from a separate entity (QIA) than those owning PSG (QSI).
Despite this, human rights group FairSquare has written a letter to UEFA urging them to block Qatar’s potential bid.
The potential acquisition of Manchester United could be a game-changer in the world of football.
It remains to be seen who will emerge as the successful bidder in this high-stakes race, but the outcome could have a significant impact on the club’s future.