A consortium of billionaires from the United Arab Emirates is reportedly preparing a substantial bid to acquire English football club Manchester United, aiming to enlist club legend David Beckham as an ambassador for their proposed takeover.
The group of unnamed investors seeks to purchase the majority shares currently held by the Glazer family. Beckham’s involvement is intended to leverage his iconic status with the club and its global fanbase.
Beckham, who already co-owns clubs like Inter Miami and Salford City, has previously voiced criticism of the Glazer family’s management of Manchester United. He would also view this as an opportunity to invest in his former club.
The Glazer family’s controversial 20-year ownership has seen more than $1.07 billion spent on debt payments, dividends, and other amounts paid to the American family.
Currently, the Glazers retain majority control, despite Jim Ratcliffe, owner of INEOS, acquiring nearly 30% of the club’s shares for approximately $1.5 billion.
While Manchester United is estimated to be worth over $2.14 billion, reports indicate the Glazers are demanding around $5.35 billion to sell their full stake.
A Saudi Arabian government official recently indicated that Manchester United was in negotiations regarding a potential sale.
This statement has been linked by English media to billionaire Rodolphe Saade, Chairman and CEO of CMA CGM Group, whose company recently purchased Freightliner. Freightliner owns land near Old Trafford, considered essential for the construction of a new 100,000-seat stadium.