Kieran Maguire: Glazers receive payment as ‘first step’ of Man United takeover completed
Saudi Arabian investors requesting financial information from Man United is equivalent to the “first step” of a takeover.
That is the opinion of finance expert Kieran Maguire, who spoke exclusively to Football Insider about the distribution of financial data among Man United bidders.
The Glazers have received official bids from Qatari investors as well as Sir Jim Ratcliffe after revealing in November that they are open to investors at Man United.
But The Telegraph also report that Saudi Arabia has joined the race to buy the Red Devils, with multiple private groups in Riyadh making formal inquiries.
The Daily Mail added that Saudi investors have requested access to financial information at Old Trafford as they continue to weigh up making a formal offer.
Maguire believes that receiving access to financial information is the start of the takeover process, but admits that it’s unclear whether the Saudi investors have exclusive access to the data.
“The potential Saudi Arabia bidders asking for access to Man United’s financial documents is equivalent to a first step in a takeover process,” Maguire told Football Insider’s Sean Fisher.
“It could be that they have to pay a sum of money to acquire this information from the club.
“That may come with the benefits of exclusivity.
“Or, all bidders screened and approved by the Raine Group could have been given access to Man United’s finances ahead of their submitted bids.“
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