Nov 24 (Lagos) - Shares of Manchester United Plc rose 25% after the Glazer family which owns the club confirmed that they are interested in selling the club. Former player David Beckham has already said that he is interested in discussing with potential bidders for a stake.
The Glazer family has owned Manchester United since 2005 and their arrival was met with fierce opposition from fans of the football club. That opposition quelled as the club achieved huge success on the pitch till 2013 when legendary manager Sir Alex Ferguson retired. Since his retirement, Manchester United have never won the English Premium league title and failed to even qualify for the Champions league in a number of seasons.
Last week, club legend Cristiano Ronaldo accused the owners of not caring about the club and called the club a "marketing club". Since that interview, Ronaldo's contract at United has been terminated with mutual consent and now this news of a possible sale of club has emerged.
With an enterprise value of almost $3 billon, the Glazer family could rake in massive profits from this sale. Some analysts are expected the selling price to be north of $5 billion mark while others suggested that potential bidders from the middle east could bid much higher in order to secure the ownership of arguably the biggest football club in the world.
Manchester United's neighbor club Manchester city football club was purchased by investors from Abu Dhabi who have invested heavily in the club and turned it into a trophy winning machine, something was Manchester United used to be about a decade ago. The fans would be relishing the prospects of big money investors from middle east coming in to compete with the money power of Manchester City.
reporting for easykobo.com on Thursday, November 24 2022 from Lagos, Nigeria