Manchester United At ‘Advanced’ Stage To Sell Club To New Investor

A leading Saudi sports official, Turki Al-Sheikh, has indicated that Manchester United is close to a full sale, stating that the club is at an “advanced stage” of concluding a deal with a new investor.

Al-Sheikh, who oversees the General Entertainment Authority tasked with bringing major sports events to Saudi Arabia, shared a message on X on Wednesday night hinting at a possible takeover bid for the Old Trafford club. His comments come just 20 months after British billionaire Sir Jim Ratcliffe purchased a 27.7% stake in the club.

The announcement coincides with reports that United is in discussions with Saudi Arabia regarding potential mid-season friendlies, with the club reportedly aiming to earn around £5 million per match to increase revenues, particularly after failing to qualify for European competitions last season. Al-Sheikh is said to be involved in these friendly negotiations.

In his post on X, Al-Sheikh wrote:

“The best news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell to a new investor… I hope he’s better than the previous owners.”

The Glazer family, United’s majority owners, previously turned down a takeover offer from Sheikh Jassim Al-Thani’s Qatari consortium before selling a stake to Ratcliffe for £1.25 billion last year. Ratcliffe later increased his ownership share to 28.94%.

Ratcliffe’s company, INEOS, which manages football operations, dismissed former manager Erik ten Hag last November and appointed Ruben Amorim. However, Amorim’s tenure has yielded disappointing results, including United’s worst-ever Premier League finish (15th) in his first season and a loss in the Europa League final, leaving the club without European football for the first time since the 2014/15 campaign.

This season, United currently rank 10th in the Premier League after seven matches and have already been knocked out of the EFL Cup by Grimsby Town. Amorim has yet to secure consecutive league wins as the team prepares to face champions Liverpool away after the international break.

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli