Saudi consortioum headed by Crown Prince Mohammed bin Salman are rumoured to be lining up a £3bn bid for Manchester United after cooling their interest in buying Newcastle for £345m
- Saudi Crown Prince Mohammed bin Salman had been linked with Newcastle
- However, it is understood the public leaks of the deal have put off investors
- Instead, bin Salman would like to turn his attentions to Manchester United
The Saudi-backed investment group who had been linked with a takeover of Newcastle United are now turning their attentions to Manchester United, according to reports.
Talk of a potential Toon takeover have quietened in recent weeks, with Magpies boss Steve Bruce pouring cold water on the idea that Crown Prince Mohammed bin Salman was close to striking a deal with Mike Ashley.
According to the Shields Gazette, the Saudi Public Investment Fund have been put off by leaks to the press, with news of a possible £345m deal appearing in the Wall Street Journal.
Saudi Crown Prince Mohammed bin Salman is still keen on purchasing Manchester United
Interest has now cooled, with bin Salman reportedly keen to return to his original goal of owning Manchester.
Bin Salman made strong attempts to acquire United 18 months ago but was rebuffed by the club’s Glazer owners.
He would likely need to come up with a figure of more than £3bn to convince them to sell up.
United released their figures for the second quarter of 2019 this week, which showed a fall in revenue and a rise in debt.
It was thought a Saudi-backed takeover of Newcastle United could be close to completion
Only commercial revenue rose during the period, with broadcast, matchday and overall revenues all down. Debt increased by £73million to £391.3m.
As reported by Sportsmail, any potential Saudi takeover could be blocked by the Premier League amid allegations that their government are facilitating the commercial theft of the top flight’s international television rights.
The League last year accused Saudi Arabia of being complicit in ‘the ongoing theft of our intellectual property’ by refusing to support legal action against pirate broadcaster beoutQ, who it is claimed are broadcasting matches illegally using the state-owned Arab Satellite Communications Organisation (ArabSat) throughout the Middle East and Africa.
Manchester United recently announced a frop in revenue and increased debt at Old Trafford
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