Thursday, March 27, 2014

Could Manchester United Be Sold To The Arab Oil - As Class of ’92 front bid for Man U For A '£2bn' Deal


David Beckham and other members of Manchester United's famous 'Class of '92' squad are poised to front a £2billion takeover of the club, it has been claimed.
The takeover is believed to be funded by the oil-rich Qatari royal family and brokered by Beckham - who spent several months playing for Qatari-owned Paris Saint-Germain before retiring last season.

Beckham, Ryan Giggs, Paul Scholes, Gary Neville, Phil Neville and Nicky Butt are said to be in detailed talks to become the frontmen of a multi-billion consortium hoping to buy a 90 per cent stake in the club from Americans Joel and Avram Glazer, who purchased Manchester United in 2005.
The claims, made in The Sun today, have not been confirmed by the former players and a spokesman for the club said it had not received any bids. 

Although shares in Manchester United rose by $16.14 on the New York Stock Exchange market amid speculation over the prospective take-over bid.
Shares increase of Manchester United to 16.14

Americans Joel and Avram Glazer (pictured), who purchased Manchester United in 2005

 The  club is presently valued at $2.6 billion, despite having its worst season in the history of the club including the humiliation by its arch rival 3-0 Manchester City on Tuesday.

Although they paid £270million from their own funds, the rest of the money used to purchase Manchester United came in the form of loans - the majority of which were secured against the club's assets -  which have since incurred interest payments of more than £60million a year.

In the four years up to June 2009, when Manchester United last published their accounts - the club became liable to pay more than £325million in interest alone, not including interest not paid.

This increased the debt the Glazers loaded on to the club to about £700million.
Many supporters felt the Glazer family - who also own the NFL's Tampa Bay Buccaneers - had taken a great risk in their financial dealings.
Supposing this claims to be trued and becomes a reality, do you think this would be an advantage to the United ? and how?






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