Elon Musk, the second richest man in the world, is reported to be considering a surprise takeover of Manchester United. The Glazers revealed in November that they were willing to listen to offers to buy either a stake in the Premier League giants or an outright buyout.
A number of parties have expressed interest in buying United, which could be bought at a world record price for sporting goods of £4.5 billion ($5.5 billion), or more.
Interest comes from the Far East, the Middle East and the US with Raines Group, the commercial bank in charge of the sale.
British billionaire Sir Jim Ratcliffe, who also happens to be a fan of Manchester United, is also keen on it. But according to the Daily Mail, Musk, who also owns Twitter and Tesla, is a huge fan of the Red Devils.
The South African-Canadian-American businessman, who has a net worth of £157 billion ($190 billion), is one of the select few who could buy Manchester’s red side.
Now, the 51-year-old is wondering if there is an opportunity at Old Trafford he shouldn’t pass up – but Friday’s bid deadline is fast approaching.
Musk previously caused his Twitter followers to unravel after claiming he was buying United.
He wrote on Twitter in August that the Red Devils are his favorite team, before explaining how he had no interest in buying sports teams.
As he headed to the podium, he tweeted: “Also, I’m buying Manchester United you’re welcome.”
When asked if he was serious, the Tesla boss said, “No, that’s a long-running joke on Twitter. I don’t buy any sports teams.”
“Although if there was any team, it would be Man Yu. They were my favorite team when I was a kid. Standup is my side hustle.”
Musk was born in South Africa and remained there until the age of 18.
As the owner of Twitter, he’s also seen a few entities create the clicks, hysteria, and interest that emanates from Old Trafford. In this aspect, they are not like the others.
He will also be well aware of the strength United have in Manchester and beyond.
United’s next owners will likely need to have money in reserve – as high as £2 billion ($2.5 billion), according to some estimates – to commit to redeveloping Old Trafford.
It will prove to be no problem for Musk, though, as Tesla’s share price drop has slashed his net worth by 150 billion pounds ($182 billion) since November.
If United brings in the Glazers’ application fee, they would become the most expensive sports team in the world, overtaking the NFL’s Denver Broncos, which was bought for 3.7 billion pounds ($4.5 billion) last year.
Five different suitors have introduced themselves so far, the first being Sir Jim Ratcliffe.
The Daily Mail also reported that Qatari investors were preparing to submit an offer within days. The Guardian added that the Emir of Qatar, Sheikh Tamim bin Hamad Al Thani, is a leading figure behind the proposed plans.
However, The Athletic claimed that Qatar expected a consortium from Saudi Arabia to come and contest their bid.
It is also rumored that two US investors are competing.
