Published On: Mon, Aug 7th, 2017

Chinese billionaire targets Manchester United shares in MAMMOTH DEAL, reports suggest

A group is working on behalf of an unnamed billionaire Asian buyer to judge the potential interest of various independent shareholders in selling up, according to reports.

The club is listed on the New York stock exchange and the negotiators want to secure something in the region of an eight per cent stake.

There have been persistent rumours that some members of the Glazer family – who control some 80 per cent of the club – are ready to relinquish a large chunk of shares.

The six children of the late Malcolm Glazer, who purchased the club for £790million in 2005, reportedly hold differing views on whether to sell their shares.

The takeover was controversial because the Florida based businessman had to borrow £525million, which the club was then burdened with.

Since then, they have spent an estimated £1billion servicing that debt.

In June, Manchester United was hailed as the world’s most valuable football club by Forbes magazine.

Football clubs continue to be attractive trophy assets for billionaires around the world with Chinese buyers recently acquiring a host of English clubs.

Last year, the entrepreneur Lai Guochuan bought West Bromwich Albion, while Aston Villa was acquired by Tony Xia.

A separate consortium backed by Chinese finance is thought to be considering a bid for Liverpool.

Jose Mourinho has reportedly grown frustrated with the club’s ownership over an apparent unwillingness to spend the amounts needed to secure targets.

Despite splurging in excess of £140million this summer to secure the signings of Romelu Lukaku, Victor Lindelof, and Nemanja Matić the Portuguese manager believes key targets have been missed.

Mr Mourinho recently claimed the £198million that Paris Saint–Germain have paid for the Brazilian superstar Neymar is “not expensive”.

The United chief believes the striker is worth the record-breaking price tag, but he did express concern the move would inflate the value of players who were not so deserving of big transfer fees.

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