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Apple Interested In Manchester United Takeover

Old Trafford Stadium, inside

Apple Interested In Manchester United Takeover

According to several reports, Apple are considering launching a GBP£5.8 billion (AUD$10.4 billion) bid for Premier League club, Manchester United, who’s owners are considering selling the side.

Although Apple have never owned a sports team, the California-based company brings in an estimated USD$395 billion (AUD$583 billion) in revenue each year and is worth USD$2.4 trillion (AUD$3.5 trillion), which would not only make the club the richest in the world but could lead to new state-of-the-art stadium.

Commenting on the club’s recent history, Manchester United legend, Gary Neville, said: “I blamed Ed Woodward for a long time but the reality is the Glazer family left him in situ, when he shouldn’t have been left in situ in charge of the football side.”

“They’ve still not dealt with the football operation; they’ve still not dealt with the player and recruitment department; they’ve still not dealt with the stadium which is rusting and needs massive money spent on it.

“Manchester United need a billion pounds in this next two-three years to either rebuild or renovate that stadium.

“They probably need another GBP£500million to GBP£600 million (AUD$894 million to GBP£1 billion) on a training ground and other infrastructure projects and football investment.

“They’ve only got GBP£40 million (AUD$71.5 million) to GBP£50 million (AUD$89.5 million) cash left in the bank, they were cash rich three years ago when they had GBP£350 million (AUD$626 million) in the bank but they’ve no longer got that,” he said.

Additionally, last year, Swiss Ramble reported that the club has only spent GBP£118 million on stadium upkeep in the last 11 years.

Not only will a completed deal see Apple join Red Bull as a multi-national company to own a sports team, but it will also add to their own sports portfolio that boasts the rights to the MLB  and MLS, and a US$50 million (AUD$77 million) sponsorship of the Super Bowl half-time show.

In addition to Apple, interest in the club has come from Zara founder, Amancio Ortega, INEOS founder, Jim Ratcliffe and the potential for a Middle-East takeover from a private investor backed by Saudi Arabia.

The final deal is also expected to become the costliest in football history, which will pass the consortium led by Todd Boehly that acquired Chelsea.

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