Earlier this week it was confirmed that the American Glazer family’s ownership of the football club has come to an end after a note on the New York Stock Exchange said the family is exploring “strategic alternatives” for the English football club.
The statement added that the process was “designed to enhance the future growth of the club, with the ultimate goal of allowing the club to capitalize on opportunities off the pitch and commercially.”
british newspaper the daily star Now reports that Apple CEO Tim Cook is keen to explore the opportunities that owning Manchester United could bring and is making an official bid for the club in the region of £5.8 billion ($7 billion).
If Apple completes a deal, it would be the first time the technology giant has bought a sports team.
Manchester United is one of the most successful clubs in world football with three Champions League wins and 20 league titles. The Glazer family bought the club in 2005 in a controversial leveraged buy-out which many supporters, players and commentators believe has contributed to the club’s long run of achievement.
United have not won the English Premier League since 2013 and have not collected any silverware since 2017. Commentators have pointed to a lack of investment in their famous Old Trafford stadium and training facilities, while rivals such as Manchester City have thrived with heavy investment. International Owner.
News of the potential Glazer sale comes in a turbulent week for United, which parted ways with global superstar striker Ronaldo, after the Portuguese player gave an incriminating interview on Piers Morgan’s talk TV show in the UK, where he criticized the club’s ambition. Head coach Erik ten Haag and the management of the Glazer family.
The Rhine Group, which oversaw the $5.4 billion sale of United rival Chelsea to Dick Clark Productions and LA Dodgers backer Todd Bohli, is acting as exclusive financial advisor to United and Latham & Watkins LLP is legal advisor. Rothschild & Company is acting as exclusive financial advisor to the Glazer Family shareholders.