(Reuters) – Saudi Arabia has submitted a bid for British soccer club Manchester United PLC ahead of Friday’s deadline, the Telegraph reported on Thursday.
Multiple private groups in Riyadh have made formal inquiries, the report added.
British billionaire Jim Ratcliffe, a life-long supporter of the club and founder of chemicals firm INEOS, is a likely bidder, along with U.S. private equity firms and possibly Qatari investors, sources told Reuters.
A deal for the record 13-times English Premier League winners will likely exceed the biggest sports deal so far, the $5.2 billion – including debt and investments – paid for Chelsea, the sources added.
Manchester United is the fourth richest soccer club in the world, according to analysis by Deloitte.
A small portion of Manchester United shares is listed in the United States with a market capitalization of more than $4 billion, as of Wednesday’s close.
The club declined to comment on the matter.
(Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri)
