Manchester United, one of the most valuable football clubs in the world, has reached a significant milestone in the Glazer family’s process of selling the club. With the February 17 deadline for investors to submit offers, the stage is set for potential bidders to make their move.
The Glazers acquired the club in 2005 through a heavily leveraged transaction for £790 million ($951 million). Manchester United is expected to generate up to £610 million ($734 million) in revenue and up to £140 million ($168 million) in adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) in its fiscal year 2023.
Reports suggest that the Glazer family is asking for around £7 billion ($8.42 billion) for the club, and potential buyers are required to submit a bid amount and provide evidence of their finances. The investment bank Raine Group is overseeing the sale process and will create a shortlist of bidders.
Manchester United Bidders
Several parties have officially made enquiries to take over Manchester United, including Sheikh Jassim Bin Hamad Al Thani from Qatar. Sheikh Jassim’s Nine Two Foundation plans to invest in the football teams, the training facility, the stadium, and additional infrastructure and will handle the debt-free financing of the bid.
Sir Jim Ratcliffe, a lifelong Manchester United fan and one of the wealthiest persons in Britain, has also declared his intention to purchase the club. Ratcliffe is reportedly willing to pay less than £5 billion for the club.
In addition to these potential bidders, private organizations from across Riyadh, Saudi Arabia, have formally inquired about buying the club. Reports indicate that various Saudi groups’ middlemen have signed the necessary paperwork, although it is not yet clear if Saudi Arabia will make an offer.
As the deadline for offers passes, it remains to be seen who will emerge as the successful bidder for Manchester United. With the club’s financial potential and global fanbase, the sale of the club could be one of the biggest deals in football history.