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Wednesday, July 24, 2024
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Takeover Bid for Manchester United ‘Moving Forward’

  • 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.
Manchester United

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.

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