New reports say that Apple is considering a $1 billion bid to acquire English soccer giant Manchester United.
It was confirmed earlier this week that the American Glazer family’s ownership of the football club would end when a note to the New York Stock Exchange said the family was exploring “strategic alternatives” for the English soccer club.
The statement said the operation was “designed to promote the club’s future growth, with the ultimate goal of positioning the club to take advantage of opportunities both on the field and at a commercial level”.Read:F1 practice live stream: How to watch Abu Dhabi Grand Prix online today to day
British tabloid newspaper Daily Star Reports now suggest that Apple CEO Tim Cook is keen to explore the opportunities that the acquisition of Manchester United could present, and is weighing an official bid for the club in the region of £5.8 billion ($7 billion).
If Apple were to complete a deal, it would be the first time the tech giant has ever bought a sports team.
Manchester United is one of the most successful football clubs in the world, with three Champions League victories and 20 league titles. The Glazer family bought the club in 2005 in a controversial purchase which many fans, players and commentators believe contributed to a prolonged period of underachievement at the club.Read:How to Watch: Texas Longhorns vs. Kansas State Wildcats to day
United have not won the Premier League since 2013 and have not collected any trophies at all since 2017. Commentators have pointed to a lack of investment in the iconic Old Trafford stadium and training facilities while rivals such as Manchester City have thrived with huge investment from international owners.
News of the Glazer’s potential sale came in a tumultuous week for Manchester United, who parted ways with world-star striker Ronaldo after the Portuguese player gave a rousing interview to Piers Morgan’s Talk TV show in the UK, in which he lashed out at the club’s ambition, the club’s chairman. Coach Erik ten Hag and management by the Glazer family.
The Reigns Group, which oversaw the $5.4 billion sale of United rival Chelsea to Dick Clark Productions and Los Angeles Dodgers backer Todd Boyley, is acting as United’s exclusive financial advisor and Latham & Watkins LLP is the legal advisor. Rothschild & Co. acts as exclusive financial advisor to the shareholders of the Glazer family.Read:Jude Bellingham makes big decision on next club after Liverpool submit bid