As fans wait for promising developments in the potential Manchester United sale, the bidding war to land the iconic football club could lead to the biggest deal in the history of professional sports.
Manchester United, which is owned by the Glazer family, has been fielding interest in a potential sale of the club for months. On March 2, the Glazers pressed a willingness to listen to offers for the team and they quickly started receiving bids.
Just over a year after the NFL’s Denver Broncos were sold for $4.65 billion to Walmart heir Rob Walton, the largest purchasing price for a professional sports franchise ever, multiple groups are now submitting bids that would completely change the landscape for buying a sports team.
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According to Sky Sports, British billionaire Jim Ratcliffe and Qatar’s Sheikh Jassim bin Hamad Al Thani are reportedly both offering separate bids worth around $6.2 billion. There are even reports that both are willing to offer up to $6.8 billion.
Originally, the bidding was set to come to a close on Wednesday. However, the window for offers was extended to 4 pm UK time on Friday, with The Telegraph reporting that the extension was asked for by one of the parties involved in the bidding war.
Notably, per Front Office Sports, the offers for a Manchester United sale haven’t met the original $7.2 billion valuation the Glazer family sought when it began fielding offers. However, the reported bids would nearly surpass the Broncos’ sale by $2 billion.
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There are some concerns in the United Kingdom, per The Guardian, that the Glazers might not go through with a deal. Some involved in the process believe the Glazer family has “played them for months” and are simply creating a bidding war to increase the value of a minority stake in Manchester United to a hedge fund at a higher valuation cost.
Highest purchase prices of a sports team ever
- Denver Broncos (NFL) – $4.65 billion in 2022
- Chelsea FC (Soccer) – $3.1 billion in 2022
- Brooklyn Nets (NBA) – $2.35 billion in 2019
- New York Mets (MLB) – $2.4 billion in 2020
- Carolina Panthers (NFL) – $2.275 billion in 2018
It won’t take long for more clarity on the situation, but the offers on the table suggest a sale remains possible. If a deal goes through, the Glazer family will climb up the ranks of the richest NFL owners before the 2023 season.
