The Telegraph reported on Thursday that Saudi Arabia has submitted a bid for British soccer club Manchester United Plc ahead of Friday’s deadline.
The report said several private groups in Riyadh have made formal enquiries.
British billionaire Jim Ratcliffe, a lifelong supporter of the club and founder of chemical firm INEOS, is a potential bidder along with US private equity firms and possibly Qatari investors, sources told Reuters.
A record 13 times a deal for English Chieftain Sources said the league’s winners are likely to exceed the biggest sporting deal ever, the $5.2 billion – including loans and investments – paid for Chelsea.
According to Deloitte’s analysis, Manchester United is the fourth richest football club in the world.
A small fraction of Manchester United’s shares are listed in the United States with a market capitalization of more than $4 billion as of Wednesday’s end.
The club declined to comment on the matter.
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