Manchester United (NYSE:MANU) rose 1.7% in premarket trading amid a report that the Glazer family is looking for £3.75 billion $(4.32 billion) in a potential sale of the famed English soccer club.
The price may be plausible for a sovereign wealth fund such as Dubai, according to a Daily Mail report.
The latest update on the MANU potential sale comes after Bloomberg reported last month that the Glazer family isn’t ready to cede control of the team but has held preliminary talks about bringing in a new investor. Private equity Apollo Global (APO) was in talks with a consortium interested in buying the soccer club, but is no longer in discussions, Bloomberg also reported last month.
Man United is one of the world’s most successful teams, but fan discontent with ownership has risen and protests have increased as the team hit harder times after the retirement of coach Sir Alex Ferguson in 2013.
Reports have also linked one of Britain’s richest men, Ineos Group founder Sir Jim Ratcliffe, to interest in a minority stake in the team or more. Tesla (TSLA) CEO and billionaire Elon Musk also joked last month that he was buying the famed British soccer club.