Avram Glazer ‘holds talks with potential investors from Saudi Arabia and Qatar’
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Manchester United co-owner Avram Glazer is said to have held talks with potential investors from Saudi Arabia and Qatar during the 2022 World Cup.
The Glazer family announced their plans to “explore strategic alternatives” and consider all options, including “new investment in the club, a sale or other transactions” on November 22.
Therefore, Glazer is said to have begun discussing the possible sale of United with a number of potentially interested parties during his trip to Doha for the 2022 World Cup.
Avram Glazer held talks with investors from Saudi Arabia and Qatar during the World Cup
The discussions began during the 62-year-old’s trip to Doha, according to the athletic. However, the nature of those discussed has not yet been revealed.
Glazer told The Athletic that the sale process was “moving along” during his trip to the Qatari capital for the 2022 World Cup.
Speaking after France’s semi-final clash with Morocco, he said: ‘It’s not necessarily a sale, it’s a process and we’re going to go through with the process.
So we’ll see what happens. That is the actualization, that is the process, and the process is underway.’
The Glazer family announced their plans to “explore strategic alternatives” and consider all options, including “new investment in the club, a sale or other transactions” in November.
This is not the first time that the Premier League giants and a Saudi investor have linked up.
However, the ties appear to be strengthening as Glazer has also bought a cricket franchise in the United Arab Emirates T20 cricket league.
In addition, Saudi Arabia’s sports minister, Prince Abdulaziz bin Turki Al-Faisal, has lent his support to a possible investment by one of his compatriots.
Asked about a possible investment, Prince Turki told Sky News: “I hope so, if there are investors and the numbers add up, and it becomes a good deal.”
Then the private sector could enter, or companies from the kingdom could enter.
The Glazers have been in power at Old Trafford since 2005 but have faced criticism.
‘The Premier League is the best league in the world. The whole world is watching the Premier League. It is the most watched league and there are die-hard fans of these teams in the kingdom. So it would be a win-win.
The Glazer family announced its decision to invite outside investment or sell outright in November 2022. It released a 333-word statement to update fans.
The statement said that the club’s board was “beginning a process to explore strategic alternatives for the club… To enhance the future growth of the club.”
The next paragraph explicitly stated that the Glazers would consider all options, including “new investment in the club, a sale or other transactions”.
Fan protests against American ownership have grown ferocious in recent months.
The statement also noted that the Raine Group, a New York-based commercial bank, had been designated United’s “exclusive financial advisor.”
Glazer spoke publicly about the sale of Manchester United on November 24 after being confronted by a Sky News reporter in Palm Beach, Florida.
Asked why now was the right time for the potential sale of United, Glazer said: “As we announced yesterday, the board has gone through a process and decided that it will look at different strategic alternatives and that is what we are doing.” .’
When Glazer was told that most United fans feel his family should have sold the club years ago, he replied: “Once again we are going through a process, we will look at all the different strategic alternatives and see where we go. carries”. us.’
They have been criticized early on for the £790m leveraged buyout that racked up massive debt at United
Glazer closed off any potential follow-up questions, adding, “I appreciate you speaking with me tonight and I wish everyone a happy Thanksgiving.”
The hated American owners have been in power at Old Trafford since 2005. However, they have been under pressure from fan groups for some time to end their 17-year reign.
They have been criticized from the outset for the £790m leveraged buyout that racked up massive debt at United.
It is believed that an offer in excess of £5bn, and possibly as much as £9bn, would persuade them to sell.