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Multiple private groups from Saudi Arabia join race to buy Man United

Multiple private groups in Saudi Arabia have made formal inquiries about buying Manchester United, reports the Telegraph.

Tomorrow is the deadline for suitors to table their official bids to purchase the Old Trafford club.

Sir Jim Ratcliffe and Qatar are keen on a Red Devils takeover but could face competition from the Saudis.

The Kingdom’s Public Investment Fund (PIF) own Newcastle United. However, a state-backed bid is not expected to be launched for Man United.

Bids have already been tabled by other potential investors ahead of tomorrow. It is unknown whether the Saudis will follow up their inquiries with a firm offer.

Man United owners the Glazers want around £5 billion for the club. A takeover is tipped to be completed by the end of April.

Intermediaries acting for several groups in Saudi have signed for sale materials.

Amnesty International and other human rights groups have already attacked the prospect of a Qatari takeover.

An attempt from Saudi to buy the Red Devils will also attract outrage from Amnesty International and co.

However, that is unlikely to prevent the Premier League from approving a takeover if Man United agree to sell to the Riyadh groups.

The highest bidder could win the race to buy the club. Ratcliffe will hope the backing he has received from JP Morgan and Goldman Sachs will go a long way.

A saga could be on the cards given the details and planning involved in completing a takeover.

Man United fans will not care as long as their next owners can invest heavily in the club.

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