Saudi Arabia investors joins the bid to buy Manchester United
It is said that Saudi Arabian investors have joined the race to buy Manchester United as the deadline for takeover proposals gets closer.
The Glazer family has said that they are open to offers for the big team in the Premier League, but any formal offers must be made before the New York Stock Exchange closes for the day on Friday.
Several people, like Sir Jim Ratcliffe and Elon Musk, who are reportedly interested in looking into purchase options have reportedly already sent in their ideas.
Recent reports from The Telegraph say that many groups in Riyadh are interested in United and have signed contracts to buy information. The Public Investment Fund (PIF) of Saudi Arabia has a stake in Newcastle United and is already involved in the ownership change of that club in 2022, even though there had been signs of Saudi involvement with Chelsea before.
Saudi investors have tried before but failed, to buy a piece of Manchester United because the Glazer family was only willing to sell a 20% stake at the time.
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Even though it has been said that a package of £5 billion ($6 billion) could be enough to get them to sell, they are now ready to back out completely.
The Qatar Investment Authority (QIA) has said that it will make a bid as long as UEFA doesn’t mind that a subsidiary of QIA, Qatar Sports Investments (QSI), already owns Ligue 1 powerhouse Paris Saint-Germain. Even so, there is a lot of interest in the club, and the Qatar Investment Authority (QIA) has said it will make a huge offer.