 "Manchester United")
The California-based tech giant Apple and Spanish billionaire Amancio Ortega, the founder of clothing brand Zara and the 19th richest man in the world, have reportedly thrown their hats in the ring to buy famous English football club Manchester United.
According to a report the largest tech company in the world wants to add Manchester United to its portfolio with a probable £5.8 billion takeover from the owners, Glazers.
The Manchester Evening News has detailed that Ortega has 'already spoken to Old Trafford executives' to declare his interest in buying United.
Earlier, it has been confirmed that the Glazers have decided to put the club up for sale, 17 years after the American family bought the Red Devils. The Glazers bought United in 2005 but went on to become hugely unpopular. The tipping point came in the wake of the club's involvement in the failed European Super League proposal and subsequent criticism that followed.
Manchester United announced in a statement that the owners were exploring "strategic alternatives" and it is understood they will sell to the highest bidder. The Glazers had initially set an asking price of £8.25 billion, as exclusively revealed by Daily Star Sport, but have been told this is unrealistic in the current market.
According to the Daily Star, bosses at Apple have expressed an interest in discussing a potential deal to buy United.
However, Apple has no experience of owning a football club the size of United, although CEO Tim Cook is keen to explore the opportunities owning United could provide. He will line up talks with the banks appointed to oversee the sale, which includes The Raine Group.
--IANS
inj/bsk
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
