Investors in Dubai are likely to be among the interested buyers after Man Utd’s American owners put the club up for sale.
Following a tumultuous 17-year ownership, characterised by fan protests and diminishing on-field success, the Glazer family are “exploring strategic alternatives” for the club.
Any potential investment in Man Utd could include a minor share offer or a full-sale of the club. The Sun newspaper in England said that a complete sale of the club would be valued at $10.6bn.
Man Utd share price surge
Shares in Man Utd surged 17 per cent on news of a possible takeover, said football analyst Kieran Maguire.
Dubai has repeatedly been linked with a possible move to buy Man Utd.
In September of this year there were widespread reports in UK media that Dubai could make a move for Man Utd. UK newspapers identified Dubai’s sovereign wealth fund as a potential bidder for Man Utd if the club became available.
There would be some symmetry in such a move, with Man Utd’s local rivals Manchester City being owned by an Abu Dhabi investment group.
The Middle East is already home to several football club owners.
Newcastle United FC was purchased by Saudi Arabia’s giant Public Investment Fund in 2021. Manchester City FC is owned by Abu Dhabi’s City Football Group, purchased in 2008, while Qatar Sports Investments bought Paris Saint-Germain FC in 2011.
Last week Man Utd players and legends arrived in Dubai for a four-day trainingcamp and Masters football match.
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.”
The Raine Group is acting as the Company’s exclusive financial advisor and Latham & Watkins LLP is legal counsel to the Company.
Rothschild and Co. is acting as exclusive financial advisor to the Glazer family shareholders.
This would be the second time that Dubai has attempted to purchase the club, with a bid in 2007 falling through. Dubai International Capital “almost signed” for a takeover of the club in 2007 for $360 million, the former DIC boss told Arabian Business.
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