Saudi Crown Prince Mohammed bin Salman is reportedly stepping up a £3.8 billion ($4.9 billion) offer to buy British football club Manchester United, according to British media reports.
According to a report in the UK-based Sun newspaper, sources at Old Trafford have said that the American Glazer family – which purchased the club for approximately $1 billion in 2003 – have no interest in selling.
The report added that the $4.9 billion valuation of the club is dependent on Manchester United securing a place in the Champion’s League, with any deal unlikely to be agreed upon before that takes place.
At the moment, Manchester United stands in fourth place in the league standings, 14 points behind leaders and rivals Manchester City.
If the club is sold at $4.9 billion, the club’s owners will make a profit of approximately $2.84 billion.
The Sun first reported that the Saudi Crown Prince was interested in buying the club last November.
At the time, it was reported that the Saudis prefer buying the club outright.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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