Manchester United could have gone from one controversial owner to another.
Before Saudi Arabia’s Public Investment Fund purchased Newcastle United for $409 million, the owners of another Premier League club reportedly offered the PIF a 30% stake for around £700 million in 2019 — which would currently be worth $787.7 million.
That team is believed to be Manchester United — the third-highest-valued soccer team in the world at $4.6 billion. Outlets reported in 2019 that PIF chairman Mohammed bin Salman was interested in the club, but the Crown Prince denied any deal had been formed.
Yasir Al-Rumayyan, the governor of PIF and the Magpies’ chairman, said Newcastle offered the PIF 100% of the club, which Forbes last valued at $381 million — No. 20 on its soccer teams valuation list.
The PIF was also willing to add to its ownership group.
- Amanda Staveley’s PCP Capital Partners took 10% after Staveley and her husband — who gave the PIF the takeover opportunity — wanted to join the group.
- The Reuben Brothers’ RB Sports & Media own the remaining 10%.
“When we looked at it, we looked at it from a financial perspective,” Al-Rumayyan said. “By the way, it wasn’t the first offer we got regarding a football team. We looked in Italy, France, and the U.K. as well.”
Money for Manchester
The news comes after The Daily Mail reported in September that despite Manchester United not officially being on the market, the Glazers are looking for roughly $4.3 billion for the team.
The Glazers, who also own the NFL’s Tampa Bay Buccaneers, have faced pressure to sell the team for how they have handled the club and its finances.