Former Manchester United board member Michael Knighton tweeted over the weekend that his takeover bid for the top-flight soccer club is “moving forward as planned.”
A deal for Manchester United would be a hostile takeover, as the club isn’t officially on the market, but pressure from fans due to lackluster results and complaints about management has spurred sale speculation.
“We are a club in crisis,” Knighton said in August. “Everyone knows that we need new ownership of this football club, and that is my aim.”
- The Glazers — who also own the Tampa Bay Buccaneers — purchased Man U for $854.48 million in 2005.
- The family is reportedly looking for roughly $4.3 billion in exchange for the team.
- Some outlets have reported that the Glazers could seek a record $5.8 billion.
Knighton’s desire to acquire full control of Man U comes after a failed attempt to buy the Premier League club in 1989 from Martin Edwards, which fell apart after two major investors pulled out, leaving Knighton with a lack of funding.
Competitive Field
Sir Jim Ratcliffe — Britain’s richest man at $16 billion, per Forbes — has also expressed interest in buying Man U, but in August reportedly hadn’t heard back from the Glazers.
Man U would add to a portfolio of sports-related properties for Ratcliffe that include cycling team INEOS Grenadiers and soccer clubs Nice and FC Lausanne-Sport.
