Apple proposes $5.8bn to buy Man United

The US tech giant, Apple, are reportedly interested in buying Manchester United.

 

United disclosed earlier in the week that they were ready to start listening to offers for the sale of the club, according to a statementposted on the club’s website.

 

With United now available, Daily Star UK  has claimed that the world’s largest tech company may be interested in acquiring the club for £5.8billion.

The California-based tech firm has never previously owned a major sports team, but the commercial opportunities provided by United are said to be a primary factor in their interest. 

Background Story

United were put on sale by owners, the Glazer family this week and potential buyers are now starting to express their interest.

 

Apple are by far the largest technology company in the world, boasting an annual revenue of almost £400 billion.

 

If Apple were to complete the takeover, it is believed that United will become the richest club in football.

 

Multiple news outlets have reported that the America-based company are looking to potentially buy the 20-time English champions.

 

The Glazer family are thought to be asking for more than £5 billion to sell the club.

 

Avram Glazer said: “As we announced yesterday, the board went through a process and it has decided it is going to look at different strategic alternatives and that's what we're doing.”

 

On Tuesday, the club owners released an official statement which read: “Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club.

 

“The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.

 

“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company. This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.”

 

It has been reported that Apple's CEO, Tim Cook is exploring the possibility of owning United and the opportunities that it can provide. Cook is also believed to be planning a new state-of-the-art stadium to replace Old Trafford that will become the best in the world.

 

This news will delight United fans as they have been campaigning to get the Glazers to sell up for a long while.

Manchester United Football Club, commonly referred to as Man United, or simply United, is a professional football club based in Old Trafford, Greater Manchester, England. The club competes in the Premier League, the top division in the English football league system.