Picture Credit: Twitter
According
to the latest reports, tech giant Apple is said to have been taking an active
interest in buying out Manchester United for a whopping £5.8billion. If the
deal goes through, the Red Devils could become the richest football Club in the
world. Recently, the Glazers, the owners of United decided to put the club for
sale.
The Glazers
put out a statement seeking an outside investment on the same day, the club terminated
the contract with Cristiano Ronaldo. The key reason for this development was the
owners wanting to enhance the club’s growth and also positioned the club to do
well on the field as well as commercial point of view. Also, they want the club
to provide much joy and benefits to the fans and stakeholders , respectively.
"As
part of this process, the Board will consider all strategic alternatives,
including new investment into the club, a sale, or other transactions involving
the Company. This will include an assessment of several initiatives to
strengthen the club, including stadium and infrastructure redevelopment, and
expansion of the club’s commercial operations on a global scale, each in the
context 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.
With an annual
revenue of almost £326billion, and estimated net worth of £2trillion, Apple are certainly have the big purses
to seal the deal. According to Daily Star, Apple CEO Tim Cook plans to build
the new state-of-the-art stadium, which would be ranked as the finest in the
world. He is expected to have an active discussion with the Raine Group, bank
appointed to oversee the sale.
The Glazers
presided over United in 2005, and since then have been involved in controversies
due to their ill-fated management. Currently, they possess a debt worth £500million,
and faced a net loss of £115.5 million in 2021-22. The fans have been long demanding
the Glazers exit the club, and want new owners to employ a fresh strategy in
terms of acquiring quality players to improve their performances.
Currently United
sit at the third position in terms of the most valued football club, with a net
worth of £3.7 billion. The Glazers will talk with the interested parties, which
include the British billionaire Sir Jim Ratcliffe as well.