Saudi Arabia enters race for Manchester United: Reports

A deal for the record 13-time Premier League champion will likely exceed the biggest sports deal so far, the $5.2 billion - including debt and investments - paid for Chelsea, the sources added.

FILE PHOTO: General view of Manchester United’s Old Trafford Stadium - Old Trafford o February 15, 2023.

Saudi Arabia has submitted a bid for Premier League club Manchester United ahead of Friday’s deadline, the Telegraph reported on Thursday.

Multiple private groups in Riyadh have made formal inquiries, the report added.

British billionaire Jim Ratcliffe, a life-long supporter of the club and founder of chemicals firm INEOS, is a likely bidder, along with US private equity firms and possibly Qatari investors, sources told Reuters.

A deal for the record 13-time Premier League champion will likely exceed the biggest sports deal so far, the $5.2 billion - including debt and investments - paid for Chelsea, the sources added.

Manchester United is the fourth richest football club in the world, according to analysis by Deloitte.

A small portion of Manchester United shares is listed in the United States with a market capitalisation of more than $4 billion, as of Wednesday’s close.

The club declined to comment on the matter.