Man Utd bracing themselves for another £3bn-plus takeover bid from Saudi Crown Prince Mohammad bin Salman
MANCHESTER UNITED are reportedly preparing for another takeover bid of more than £3billion from the Saudi Royal Family. It is believed two offers have already been rejected out of hand by the Glazer family, who own the club. But last week SunSport exclusively revealed that co-owner Kevin Glazer is prepared to sell his 13 per […]
MANCHESTER UNITED are reportedly preparing for another takeover bid of more than £3billion from the Saudi Royal Family.
It is believed two offers have already been rejected out of hand by the Glazer family, who own the club.
But last week SunSport exclusively revealed that co-owner Kevin Glazer is prepared to sell his 13 per cent stake in the club.
He has converted his B shares into A shares, which in layman’s terms means they are available on the New York Stock Exchange.
The 20,899,366 A shares now owned by the Kevin Glazer Irrevocable Exempt Family Trust are worth about £270m at the current price.
Kevin has also declared control, via KEGT Holdings, of a further 3,765,392 A shares, worth close to £50m.
UNITED’S HUGE DEBTS
And now The Mirror is reporting Crown Prince Mohammad Bin Salman is ready to go back in again for an Old Trafford takeover.
It will just mean the small matter of convincing Avram, Joel, Bryan, Edward and Darcie Glazer to cash in their stakes.
The American Glazer family purchased United for £790million almost 14 years ago but saddled the club with huge debt.
But despite United’s stock tumbling from around $20 to $16 in the last year, the club is still valued at more than £3billion now.
SunSport first reported the Saudi interest back in October 2018, and that buying the club outright was the top choice.
But the skids were put on a potential offer after the Crown Prince became embroiled in the diplomatic row after journalist Jamal Khashoggi was killed.
And the Glazers have still not publicly said that they are willing to entertain offers for the club.
Bin Salman is the power behind the throne of one the most important nations in the Middle East.
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He reportedly has a personal wealth in excess of £7bn.
Prince Mohammad is also reportedly the owner of the “most expensive house in the world”.
He is said to have forked out $300million to buy the lavish Chateau Louis XIV, a 54,000 square foot palace near Versailles in 2015.
Meet the Glazers
AVRAM GLAZER, 58
Known as Avie, the eldest child of Malcolm and Linda Glazer has been co-chairman of United, with brother Joel, since 2005.
His earlier business career included being chairman and chief executive of the Zapata Corporation, which was founded by George W Bush, later the 41st President of the USA.
JOEL GLAZER, 48
As well as his involvement with United, Joel is co-chairman,with brothers Bryan and Edward, of the Tampa Bay Buccaneers, the NFL franchise the family bought in 1995.
Under their tenure, the Bucs won their first Super Bowl in 2003 and opened a new stadium where home team touchdowns are marked by cannons firing from a 103-foot replica pirate ship.
BRYAN GLAZER, 54
Also a former Zapata executive. Takes control of a lot of the day-to-day running of the NFL team and had a big ole in the design and construction of the Raymond James Stadium.
In 2015 made a $4million contribution to setting up the Bryan Glazer Jewish Community Center in Tampa.
KEVIN GLAZER, 56
Co-chairman of First Allied Corporation, the real estate company which is the foundation of the family’s fortune.
He’s also the director of a banking firm, a commercial refrigeration business and the Houlihan’s restaurant chain.
DARCIE GLAZER KASSEWITZ, 50
Executive vice-present of First Allied Corporation.
She is co-president and main driving force of the Glazer Family Foundation which established a Children’s Museum in Tampa and does a lot of philanthropic work in the city, much of it linked to the Bucs.
EDWARD GLAZER, 48
Co-president of the Foundation.
The Glazers are known as supporters of Donald Trump, but although Ed hosted a fundraiser for Trump and donated $250,000 to his inaugural committee, but also gave $5,400 to Hillary Clinton’s 2016 presidential campaign.
Cashed in £30m of United shares in December 2014, barely six months after father Malcolm’s death.
