Man Utd owner Avram Glazer held talks with investors from Saudi Arabia and Qatar during a visit to the World Cup finals, reports The Athletic.
The Man Utd owner was ostensibly in Doha to watch football, but took the opportunity to meet with potential investors say media reports in the UK.
Last month Man Utd announced it would “explore strategic alternatives for the club” and would consider an outright sale of the former football superpower.
Man Utd owner in Doha
The Raine Group is acting as the Man Utd’s exclusive financial advisor on the possible sale and hopes to conclude a full sale for around $8.5bn in the first quarter of 2023.
A sale is highly unlikely to go through before the January transfer window closes, meaning any potential rebuilding would need to wait until the summer.
While in Doha Glazer told media “We’re going forward with the process, so we’ll see what happens. That’s the update, it’s the process and the process is proceeding.”
Details were not provided on the suitors Man Utd owner Glazer met with, but UK media said there were potential buyers from Saudi Arabia and Qatar at meetings.
Last month Saudi Arabia’s sports minister said the Kingdom would support any bids from companies in the private sector looking to buy Man Utd.
Prince Abdulaziz bin Turki Al Faisal, said that the government would support any bid for football acquisitions from the private sector.
“It’s the most-watched league in Saudi and the region and you have a lot of fans of the Premier League,” he said. “From the private sector, I can’t speak on their behalf, but there is a lot of interest and appetite and there’s a lot of passion about football.
“We will definitely support it if any [Saudi] private sector comes in, because we know that’s going to reflect positively on sports within the kingdom.
“If there’s an investor willing to do so and the numbers add up, why not?”
Last month Man Utd put investors on red alert when it announced a possible sale. A statement from Manchester United said: “Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club.
“The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.
“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.
“This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.
Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said, “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. As we seek to continue building on the Club’s history of success, the Board has authorized a thorough evaluation of strategic alternatives.
“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future. Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
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