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Saudi Arabia’s PIF Has Reportedly Joined The Race To Buy Manchester United

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Manchester United is a big deal, and its sky-high valuation isn’t stopping investors from joining the race to buy it. According to the Telegraph, Saudi Arabia’s sovereign wealth fund, the PIF, has reportedly tabled an offer.

According to a Deloitte research report, Manchester United, which is listed in the United States, has a market valuation of more than $4 billion, making it the fourth richest football club in the world.

The Glazers have a history of teaming up with Saudi Telecom, the nation’s biggest telecom company, and had previously agreed to a strategic partnership with the country’s General Sports Authority in 2017. This strategic partnership was part of the Saudi Vision 2030 plan, which aims to diversify the Saudi economy and further develop its public sectors.

It remains to be seen whether Saudi Arabia will submit a successful bid, but it’s clear that this race to purchase one of the world’s biggest clubs is one that the country is not taking lightly.

via GIPHY

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