October 20 – A consortium of investors based in the United Arab Emirates has approached Manchester United icon Eric Cantona to act as an ambassador for a potential bid to buy the club, according to reports.
The group – which is still being assembled – is seeking to raise capital before formally approaching the Glazer family, who remain the majority owners of Manchester United.
According to the Guardian, the first part of the consortium’s early strategy is believed to be seeking endorsement from a number of the club’s most recognisable former players, including Wayne Rooney and David Beckham, to lend credibility and global resonance to its reported proposal.
While no formal offer has yet been submitted, the UAE-based investors are reportedly exploring both a full takeover and a significant minority stake as potential entry points.
The consortium’s bid concept is to align itself with former players who remain revered by fans, leveraging nostalgia and authenticity to win public favour – a factor likely to prove valuable should they enter direct talks with the Glazer family.
The Glazers have controlled Manchester United since their leveraged buyout in 2005 and have faced long-standing opposition from sections of the fanbase over the debt incurred during the acquisition and subsequent dividend withdrawals. In November 2022, the family formally announced they were “exploring strategic alternatives,” including a potential sale or new investment – a statement spurred by a series of green-and-gold clad fan protests.
That process led to two high-profile bids: one from Sheikh Jassim bin Hamad al-Thani, a Qatari banker who offered to buy 100% of the club, and another from Sir Jim Ratcliffe, the INEOS chairman and one of Britain’s wealthiest businessmen.
Sheikh Jassim eventually withdrew in October 2023 after his £5 billion offer fell short of the Glazers’ £6 billion valuation. Ratcliffe later agreed a 27.7% minority stake in February 2024, giving INEOS control over football operations. His shareholding has since risen to 28.94%.
Whether the mysterious new UAE bidders intend to work alongside or compete with Ratcliffe remains unclear. What is clear is that these investors view United’s commercial strength, global fanbase, and potential for stadium redevelopment as assets capable of driving long-term returns.
If the group does formalise a proposal, it would mark the latest chapter in a wave of Gulf-backed investment across European football.
The City Football Group, backed by Abu Dhabi’s ruling family, has owned noisy neighbours Manchester City since 2008 and expanded into a multi-club global model – with the club picking up eight Premier League titles since. Saudi Arabia’s Public Investment Fund acquired Newcastle United in 2021, while Qatar Sports Investments owns European Champions Paris Saint-Germain.
United, by contrast, have remained under American ownership during this period of Middle Eastern expansion. Yet the club’s global stature and listing on the New York Stock Exchange make it a uniquely visible and politically significant target for investors in the region seeking soft power through sport.
Manchester United’s enterprise valuation remains above £5.4 billion, despite being plagued by recent financial pressures and the need for significant investment in Old Trafford’s redevelopment – be it a much-needed facelift or a completely new stadium altogether.
Club revenues reached a record £648.5 million last season, though debt remains above £970 million when accounting for borrowings and transfer liabilities.
As of this week, no comment has been issued by Manchester United or representatives of the Glazer family regarding the reported approach. Cantona, Rooney, and Beckham have also not publicly commented on the matter.
Contact the writer of this story, Harry Ewing, at [email protected]