Agreement Reached – Manchester United have confirmed takeover interest coming from Saudi Arabia
Takeover discussions between Manchester United and Saudi Arabia have been confirmed.
Reports this week surfaced about Qatari interest in bidding for the Red Devils, which divided the supporters given their human rights record and controversies during the World Cup 2022.
According to The Telegraph, parties from America, China, and Singapore are also considering tabling proposals for the club, and there is concrete interest in Saudi Arabia.
Newcastle United is now owned by the Public Investment Fund of Saudi Arabia. They are claimed to be worth £305 million, whereas Manchester United is valued at between £6 and £8 billion.
The bidding process for a takeover should start soon.
Raine Group is handling the sale, and they have asked that anyone interested in participating in the bidding process submit their proposals by Friday, February 17 – however, this is not a firm deadline.
United fans may await crucial details in the coming weeks about the team’s future, which is experiencing a total comeback under Erik ten Hag.