Deal Imminent – Apple target ‘blockbuster’ Man Utd takeover that would make them ‘richest club in the world’
According to rumours, Apple is interested in purchasing Manchester United after the Premier League team was put up for sale on Tuesday.
For many years, Red Devils fans have been upset with the Glazer family’s ownership of their team, with the Americans acquiring a controlling stake in the Premier League club in 2005.
Fans have been outraged by the Glazers’ failure to put their own money into the club while happily taking dividends out.
On their watch, there have been multiple big-money transfer failures, as well as a failure to modernize the stadium and training facilities, as emphasized by Cristiano Ronaldo’s recent comments.
Only a few hours after Ronaldo’s mutually agreed-upon departure, and following his explosive interview with Piers Morgan, came news of considerably greater importance for fans long opposed to the unpopular American owners.
After 17 years in power, the Glazers appear ready to surrender control after the club declared it was “exploring strategic alternatives,” including a sale.
Man United’s board of directors has begun a process “intended to promote the club’s future growth,” with the goal of maximizing opportunities both on and off the field.
“As part of this process, the board will explore all strategic alternatives, including additional investment into the club, a sale, or other transactions involving the firm,” according to a club statement.
“This will include an evaluation of several initiatives to strengthen the club, such as stadium and infrastructure redevelopment and global expansion of the club’s commercial operations, all with the goal of enhancing the long-term success of the club’s men’s, women’s, and academy teams and bringing benefits to fans and other stakeholders.”
The Raine Group, which brokered the sale of Premier League rivals Chelsea earlier this summer, is working as United’s exclusive financial advisor, with Rothschild and Co serving the Glazer family shareholders in the same capacity.
While the Glazers’ apparent readiness to discuss a sale after years of fan protests – which have erupted in recent years, with the club’s involvement in the failed European Super League sparking particular outrage – will be welcomed, Man Utd warn that there are no certainties.
“There can be no promise that the review being conducted will result in any transaction involving the company,” the company said in a statement on Tuesday.
However, there appears to be no shortage of potential buyers for the club, with the Daily Star reporting that Apple is the latest group to put their hat into the ring.
The Daily Star claims that if Apple completes a “blockbuster takeover” of Manchester United, the team will become the “richest club in the world.”
Apple has ‘shown an interest in discussing a prospective purchase,’ and any takeover would give Man Utd’more riches at their disposal than both Manchester City and Newcastle,’ with the business having a ‘estimated net worth of £2trillion as of this month.’
According to the story, Apple CEO Tim Cook “is eager to investigate the prospects that ownership of United could afford – and will line up negotiations with the banks chosen to supervise the sale.”
‘Part of Cook’s idea might include Apple supporting the construction of a new state-of-the-art stadium that would be considered as the best in the world,’ the Daily Star continues.
