• Manchester United: Saudi Arabia prince Mohammed Bin Salman denies takeover bid
    19:20 | 18/02/2019

    Saudi Arabia Crown Prince Mohammed Bin Salman’s media minister has denied reports linking him with a £3.8bn takeover of Manchester United.

    Reports linking Prince Mohammed Bin Salman initially surfaced in October

    Rumours of his interest resurfaced over the weekend, although reports suggest the Glazers are not looking to sell.

    United’s American owners bought the club for £790m in May 2005.

    “Reports claiming that HRH the Crown Prince Mohammed Bin Salman intends on buying Manchester United are completely false,” said Turki al-Shabanah.

    “Manchester United held a meeting with PIF [​Public Investment Fund] Saudi to discuss a sponsorship opportunity. No deal has materialised.”

    Prince bin Salman, 33, was appointed Crown Prince of Saudi Arabia in June 2017.

    Saudi Arabia has been condemned for its human rights record and has faced scrutiny over the death of journalist Jamal Khashoggi at a Saudi embassy last year.

    In October, Manchester United pulled out of an investment forum in Saudi Arabia amid the fallout from Khashoggi’s death.

    The Old Trafford club posted a record revenue of £208.6m for the second quarter of 2018 and earnings before interest, taxes, depreciation, and amortization of £104.3m.

    However, reports suggest the Glazers’ takeover almost 14 years ago has come at a cost of more than £1billion to the club.

    Source – BBC News

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