Indian Billionaire Mukesh Ambani scraps plan to buy Manchester United or Liverpool and is instead focused on Arsenal: Reports


Indian Billionaire Mukesh Ambani scraps plan to buy Manchester United or Liverpool and is instead focused on Arsenal: Reports

Mukesh Ambani

Recently, speculation has been mounting that Liverpool and Manchester United are looking to offload their respective clubs and reap the rewards of their invested funds. Indian industrialist Mukesh Ambani has been touted as a potential buyer for both clubs.

ADVERTISEMENT

A recent report by the Athletic has suggested that Mukesh Ambani, a prominent figure in the business world, is looking to purchase Arsenal FC rather than the two clubs previously mentioned. The majority stakes of the North London giants are owned by the Kroenke Sports & Entertainment company, based in America. Furthermore, the report indicated that Akash Ambani, the son of Mukesh, is a keen admirer of the top-ranking Premier League side.

Mukesh Ambani, who is appraised by Forbes at $90.7 billion, boasts a significant background in sports. He is the proprietor of the most victorious side in the Indian Premier League, Mumbai Indians (MI), which has won the title five times. His Reliance’s subsidiary, Football Sports Development Limited (FSDL), is the commercial partner of the All India Football Federation (AIFF) and has a major impact on managing the Indian Super League (ISL).

Also Read: Portugal offers Jose Mourinho national team head coach role: Reports

ADVERTISEMENT

Glazer family is eager to finish the sale of Manchester United by the end of March 2023: Reports

The Glazer family is reportedly eager to finalize the sale of Manchester United by March. Unfortunately, the American owners have encountered a significant obstacle since their asking price of between £6billion-£7bn has been viewed as too high by potential buyers. Last month, Joel and Avram Glazer announced that Manchester United was available for purchase after the Glazers had been in control of the club for 17 years.

Former Crystal Palace chairman Simon Jordan has suggested that Manchester United would be a worthwhile purchase for potential investors. However, according to The Athletic, the Glazers have had a hard time attempting to sell the team for their desired amount. This news will undoubtedly come as a disappointment to the supporters of Manchester United, who have been vocal in their disdain for the Glazers since 2005.

The Glazers have asked The Raine Group, an Investment Banking firm, to be their exclusive financial advisors. Despite this, some financial professionals have argued that the Glazers will not be able to receive the large sum they are expecting. In fact, Manchester United’s stock value has increased from £10.61 to £16.28 since the announcement of the sale. But investors believe that the price should have gone up even more, as the stock has decreased from £18.50 over the past week.

Also Read: Inter Milan and Bayern Munich extend their special streak at FIFA World Cup even after 40 years

ADVERTISEMENT

Also Read: After Grant Wahl, another journalist dies in Qatar while covering 2022 FIFA World Cup