Saudi Kingdom denies Crown Prince, Bin Mohammed's bid to buy Man Utd
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Saudi Kingdom denies Crown Prince, Bin Mohammed’s bid to buy Man Utd

Saudi Kingdom denies Crown Prince, Bin Mohammed's bid to buy Man Utd

Saudi Arabia’s crown prince is not seeking to buy English Premier League (EPL) clubside Manchester United, the kingdom’s media minister said on Monday.

While denying reports to that effect, the minister, Turki al-Shabanah, added that there had only been a meeting with the Saudi wealth fund regarding sponsorship.

Reports that Mohammed Bin Salman intends to buy the club are “completely false”, Shabanah, wrote on social network Twitter.

He was reacting to reports that the crown prince had sought to tempt the Glazer family to cede control of the club.

“Manchester United held a meeting with PIF Saudi to discuss (a) sponsorship opportunity,” Shabanah said, adding that no deal materialised.

British newspaper The Sun earlier claimed that bin Salman was negotiating to take over the club for £3.8 billion.

Manchester United is owned by the Glazer family who own Tampa Bay Buccaneers, a professional American football team based in Tampa, Florida, and competing in the National Football League.

The PIF was set up in 1971 to support projects of strategic significance to the Saudi economy.

It is the world’s tenth-largest sovereign fund with $360 billion, according to the latest figures of the Sovereign Wealth Fund Institute (SWFI).

The paper said a bid was first submitted in October.

It added that the fallout from the murder of Saudi journalist Jamal Khashoggi at the kingdom’s embassy in Istanbul however put the “skids” on a potential offer.

 

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