Saudi Government Would 'Definitely Support' Bids for Man U, Liverpool
source link: https://www.businessinsider.com/soccer-football-sports-saudi-government-support-bids-manchester-united-liverpool-2022-11
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The Saudi Arabian government would 'definitely support' private bids for UK soccer clubs Manchester United or Liverpool, sports minister says
The American owners of Manchester United are exploring "strategic alternatives," including a sale or new investments into the club. Getty/Catherine Ivill
- Saudi Arabia's sports minister told BBC it will support private bids for Manchester United and Liverpool FCs.
- Man United's American owners, the Glazer family, are exploring a potential sale of the club.
- A consortium led by Saudi Arabia's Public Investment Fund already owns Newcastle United FC.
Saudi Arabia's sports minister said its government would support private bids from the kingdom for UK soccer clubs Manchester United and Liverpool.
"We will definitely support it if any private sector comes in, because we know that's going to reflect positively even on sports within the kingdom," Prince Abdulaziz bin Turki Al Faisal told BBC Sport on Thursday.
Manchester United said on Wednesday it's exploring "strategic alternatives," including a sale or new investments into the club, which is currently owned by US-based Glazer family.
Liverpool FC was also put up for sale a few weeks earlier by owners Fenway Sports Group.
Prince Abdulaziz told BBC sport he couldn't speak on behalf of the private sector, "but if there's an investor willing to do so and the numbers add up, why not?"
Saudia Arabian is no stranger to investing in English soccer clubs. A consortium led by Saudi Arabia's Public Investment Fund purchased Newcastle United FC in October 2021 for $409 million.
Manchester United and Liverpool are among the world's most valuable sports teams. Forbes estimates Manchester United is worth around $4.6 billion, while Liverpool is worth about $4.45 billion. Both play in the English Premier League, which earns a substantial amount of money from TV broadcast rights, both domestically and internationally.
The English Premier League's revenue is expected to hit 6 billion British pounds, or $7.27 billion, this season between August 2022 and May 2023, according to an August report from accounting giant Deloitte.
"There is a lot of interest, there is a lot of appetite, and there is a lot of passion about football," Prince Abdulaziz told the BBC.
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