Manchester United stake 'may be sold to Chinese billionaire'
UK media reports that a buyer from China has contacted some of United’s independent shareholders
English Premier League football giants Manchester United could become the latest European club to come under Chinese ownership after a mystery buyer was reported to have expressed an interest in buying out some of the club’s shareholders.
The UK newspaper The Sunday Times reported that a buyer from China has contacted some of United’s independent shareholders in an attempt to purchase a holding in the Old Trafford club.
The report comes a week before the start of the new EPL season – next Sunday Man United take on West Ham
Negotiators, said to be working on behalf of a Chinese billionaire, have been in touch with several United shareholders in the past few weeks.
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The mystery investor may have been given encouragement to pursue a stake in the 20-times English champions by persistent rumours that certain members of the Glazer family would be open to the idea of selling a bigger chunk of the club.
According to The Sunday Times, of the six Glazer children, three are said to be interested in a sale. One City source claims that a sizeable block of shares - about 8 per cent of the club - was being offered for sale last week by an American broker. The underlying owner of the stake was unclear.
The United States-based Glazers control around 80 per cent of United, with the rest being held by investment funds in the UK and US.
Updated: August 6, 2017 11:43 AM