The owners of Manchester United reportedly have no plans to sell the club despite rumors that the Crown Prince of Saudi Arabia is preparing a whopping £4 billion bid.
The owners of Manchester United, the Glazer family, reportedly have no plans to sell the club despite rumors that the Crown Prince of Saudi Arabia is preparing a whopping £4 billion bid.
Rumors have emerged over the last few days that Crown Prince Mohammad bin Salman, who's family is worth an estimated £850bn, has been preparing to launch a bid for the 20-time English champions. It was reported that he would meet with United representatives in the next few weeks.
However, the decision of co-owner Avram Glazer to pull out of an upcoming investment forum in Saudi Arabia, following the recent death of journalist Jamal Khashoggi at the Saudi consulate in Istanbul, appears to have poured cold water on these rumors.
The Guardian reports that there is little appetite for a change of leadership at Old Trafford, where the Glazer family have been in charge since 2005. Former chairman Malcolm Glazer died in 2014, with his sons Joel and Avram succeeding him.
The Glazers have rarely been popular among fans of Manchester United, but the club is stable at the moment and the owners have no intentions of discussing a sale.
The initial rumors of a Saudi takeover bid resulted in United's share price reaching an all-time high on the on the New York Stock Exchange of $27.65, with Forbes valuing the club at around £3.2bn.
The Mirror reports that a meeting between the Glazers and the Crown Prince is still on the table, but not unless and until Bin Salman has been cleared of any wrongdoing in the Khashoggi case.