Apple are exploring the possibility of making a sensational £5.8bn bid to purchase Manchester United, according to reports.
The Premier League side were put up for sale by current owners the Glazer family earlier this week. The American’s completed a takeover of United in 2005 and have owned the club for 17 years.
Fans have long protested the ownership of the club by the Glazers. Since 2005, the Manchester United Supporters' Trust (M.U.S.T) has been working on a way of returning ownership of the club to supporters.
The announcement that the Glazers are seeking to sell United comes weeks after Liverpool F.C were also put up for sale by the Fenway Sports Group. It comes during a dramatic week in which United parted company with Cristiano Ronaldo following an explosive interview with Piers Morgan.
If Apple were to complete a takeover of Manchester United, it could make the club the richest in the world. Here is all you need to know:
Does Apple want to buy Manchester United?
Daily Star have repored that the American technology giant is considering a bid to purchase the Red Devils. The football club was put up for sale by the Glazers this week.
Apple are said to interested in buying Manchester United, in a move which could cost £5.8bn. If the purchase went through it would make the Premier League side the richest club in the world.
CEO Tim Cook is said to be keen to explore the possibilities of owning United. The Daily Star has reported that he will line up talks with the banks handling the sale, including the Raine Group.
AppleInsider reports that neither Cook or Manchester United have commented on the reports.
What is Tim Cook’s net worth and would United be richest club in the world?
Tim Cook has been the CEO of Apple since 2011, he took over from Steve Jobs prior to the founder’s death that same year. He joined the company in 1998 as a senior vice president for worldwide operations.
His role at Apple has proved to be a lucrative one and Cook is estimated to be worth around $1.8bn as of 2022. Cook owns about 3.3 million shares in Apple, according to Forbes.
Apple itself is the largest technology company in the world at the current time. It has an annunal revenue of almost £326bn. Daily Star reports that Apple is estimated to have a net worth of £2 trillion.
If the American company was to purchase Manchester United it would make the club the richest in the world. Newcastle United currently hold that title following their takeover by the Saudi Public Investment Fund, which has estimated assets of $620bn.
Why are the Glazers considering selling Manchester United?
A statement from Manchester United said the board “will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company”. Executive co-chairmen Avram and Joel Glazer added that they are looking to “maximise the significant growth opportunities available to the club today and in the future”, but it appears they are ready to cash in.
The Glazers have followed Liverpool owners the Fenway Sports Group in making it known their club is for sale, meaning England’s two most successful teams on the pitch, and their most marketable assets off it, are both on the market. It comes at a time when the failure of both the European Super League and Project Big Picture thwarted attempts by the so-called big clubs to take greater control over football.
And with Newcastle forcing their way into the competition for the limited number of Champions League places after their Saudi-backed takeover, plus the price paid by Boehly for Chelsea, both the Glazers and FSG appear to think now is the time to cash in.