Saudi Arabia’s Public Investment Fund also known as PIF were reportedly offered to purchase a stake in Manchester United. PIF are currently the richest owners in the Premier League at Newcastle United.
PIF took over Newcastle from former owner Mike Ashley. Newcastle have since become the richest football club in the Premier League.
United fans have wanted to see the removal of the Glazers for some time. Whilst fan protests continue, news about a potential new owner has run dry.
However todays new story highlights what could have been for United. PIF are already making substantial investment at Newcastle United, both on and off the pitch.
United fans were handed a lifeline some weeks ago. Reports emerged that Dubai and Sir Jim Ratcliffe are two potential buyers.
However the Glazers sale price is still a huge factor in any sale of the club. The Glazers want a huge sum of money to part way with the club.
Regardless, a new report emerged today from the Athletic, it says;
“Saudi Arabia’s Public Investment Fund (PIF) were offered 30% of Manchester United for £700m before buying Newcastle United.”
PIF could have bought the 30% stake with a potential view for complete ownership.
However, as we have seen, that didn’t seem viable. PIF Governor Yasir Al-Rumayyan said;
“In the UK, there was a team that approached us on the basis that we take 30% of the ownership, and we don’t interfere at all in terms of managing the club, for £700m.”
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