Man Utd had £700m takeover deal rejected shortly before Newcastle became world’s richest

On Oct 5, 2022

Manchester United were reportedly on the brink of being partially owned by the Saudi Arabia Public Investment Fund in a £700million takeover deal before the collective brought Newcastle.

The Red Devils, owned by the controversial Glazer family were touted to the PIF who were interested in buying a Premier League club ahead of their £300million acquisition of Newcastle last year, The Athletic have reported. But the deal presented to PIF, led by Crown Prince Mohammed Bin Salman, would’ve only given them a 30% stake in the Red Devils for £700m.

The proposal also included terms that meant the Saudi group wouldn’t have any input on how the club was run – on and off the pitch. But these conditions didn’t suit PIF who subsequently rejected the chance to invest in United – opting to buy the Magpies instead.

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Speaking on the interest in United and how the Magpies deal transpired, PIF governor and Newcastle chairman Yasir Al-Rumayyan explained: “In the UK there was a team that approached us on the basis that we take 30 per cent of the ownership, and we don’t interfere at all in terms of managing the club, for £700m.

“Then we bought Newcastle, who offered us 100 per cent of the ownership.”

PIF then reduced their ownership stake to 80%. And the remaining 20% was split between the RB Sports and Media and PCP Capital Partners – owned by Amanda Staveley.

Would Newcastle’s owners of been a good fit for Manchester United? Let us know in the comments section below.

Newcastle’s owners were offered a stake in Man Utd before they chose to buy the Magpies
(Image: Getty Images)

Manchester United could have become the richest club in world football
(Image: Getty Images)

The choice to turn down United to acquire Newcastle was a no-brainer to Al-Rumayyan who wants to turn Eddie Howe’s side into a multi-billion pound brand like Premier League rivals Chelsea – who were sold to Todd Boehly in a deal worth £3.5b this summer.

But despite his claims, Salman previously dismissed reports that the group were interested in buying United in 2019.

United fans would’ve likely had no objection to PIF buying a stake in the club as they’ve protested against the club’s current owners The Glazers on numerous occasions over the years.