According to reports, Manchester United owner Avram Glazer met with potential investors from Saudi Arabia and Qatar in Doha. The Red Devils are currently for sale, with their mega-rich American governors eager to sell after 17 years of rule. But who ultimately takes over the club remains to be seen, with no clear frontrunner established at this point.
United’s financial advisors, The Raine Group, expect a full sale of the club to be completed by the end of the first quarter of 2023. It won’t be cheap for interested suitors, with Glazer seeking between £6 billion and £7 billion ($7.3 billion to $8.5 billion) to sell the Red Devils.
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According to The Athletic, the nature of the talks between Glazer and Saudi Arabia and Qatar investors is currently unclear.
However, it has previously been speculated that the Qatar Investment Authority, the Gulf state’s sovereign investment fund, was seeking to purchase a top European football club.
Neither Manchester United nor The Raine Group commented on the matter when contacted by the media.
Earlier this week in Doha, Avram Glazer indicated that the process of seeking investment is currently ongoing.
“It’s not necessarily a sale, it’s a process and we’re going forward with the process, so we’ll see what happens,” he said.
“That’s the update, it’s the process and the process is proceeding.”