Glazer Family Reportedly Rejected Offer To Buy Manchester United
The Glazer family have reportedly turned down an offer from Saudi Arabia to sell Manchester United but the report suggests that more offers could be forthcoming for the Premier League side.
When Malcolm Glazer borrowed money in May 2005 to buy Manchester United outright and take it from a PLC to a privately owned company it turned swathes of fans from the club against him.
For years there were protests inside and outside Old Trafford with many fans adorning the yellow and green of the original Newton Heath club, that became United, as a sign of their dislike towards the Glazer family.
In recent times the amount of protest has died down but many are still critical of the way the club has been run, especially as profit has often seemed more important than on field success.
Despite not winning the league title since 2013 the club still recorded revenue of £590 million in September, more than Premier League champions and rivals Manchester City, but United’s debt remains at £487 million, down from the £525 million the American’s borrowed in 2005.
Most fans of the club would love to see it get sold and that could be closer to a reality than previously thought with the Glazers reportedly rejecting a bid recently:
United fans will take some solace in the fact that the report says that ‘discussions are far from over’ but it’s not the first time a suggested takeover from the middle east has been mooted.
In February the Saudi Arabia Crown Prince Mohammed Bin Salman’s media minister denied reports of a £3.8 billion takeover bid.
The Red Devils aren’t the only club to have been linked to a recent takeover with Chelsea linked with being bought by Britain’s richest man Sir Jim Ratcliffe.
Ratcliffe recently bought cycling’s Team Sky but is still interested in the Blues, despite being a United fan.
Will the Old Trafford side get bought?