Saudi Prince Mohammed bin Salman has reportedly performed a U-turn over Newcastle as he instead eyes up a Manchester United takeover.
Bin Salman was linked with a takeover of the Red Devils last year via Saudi Arabia’s Public Investment Fund, his key investment tool. But details of negotiations with Premier League rivals Newcastle United were leaked last month with British financier Amanda Staveley leading a consortium heavily backed by Bin Salman.
Reports claim he has cooled his interest in Newcastle and could now turn his attentions to the Red Devils, considering them “a Premier League jewel in the crown, rather than relegation contenders”.
They were eyeing a £345million takeover of the Magpies but are said to have cooled their interest after being left angry details were leaked, with the involvement of Staveley also an issue for both the proposed buyer and seller. A move to try and acquire Manchester United from the Glazer Family could now be on their radar, although the club is valued at a huge level of around £3billion.
Prince Mohammed’s economic reform plans for Saudi Arabia have featured a major focus on sport and entertainment, including taking Anthony Joshua’s rematch with Andy Ruiz Jr to the country last year in a money-spinning bout. He was prepared to pay around £3 .5billion for United 18 months ago only for the Glazers to insist they were not open for offers.
But their latest financial figures showed the staggering affect that no Champions League football has had on the club, with broadcast revenue dropping by £39million and matchday revenue down by 15%. Net debt has also risen by £73 .6million over the financial year with Prince Mohammed hoping they could have a change of heart as he considers a lucrative takeover bid.Photo Credit: Getty