Manchester United reject £3 billion Saudi takeover bid

Crown prince Mohammad bin Salman was understood to be interested in buying a controlling stake in the Premier League giants for £3 billion.

Bin Salaman is one of the world’s richest men and was also reported to be interested in a full takeover.

But his audacious bid has been knocked back by the Glazer family, while shares in the club have soared since the interest was revealed.

United had a market of value of around £2.7 billion on Monday morning, although a takeover bid would need to exceed that amount significantly.

It is now reported that anyone keen to take over would need to offer more than a whopping £4 billion.

Reports claim Bin Salman was due to meet with co-owner and co-chair Avram Glazer in Saudi Arabia.

He was said to be keen to rival United’s neighbours Manchester City, who have been owned by Abu Dhabi’s Sheikh Mansour for the last ten years.

However, that now looks unlikely and the Red Devils will remain under the control of the Glazers for the time being.

Under the Glazers, Manchester United have won five Premier League titles – more than any other side in that period.

They have also lifted the FA Cup, the League Cup and the Champions League.

But the owners have never been in the favour with the fans, having levelled the club with millions of pounds of debt since their arrival.

They also came in for criticism in the summer for failing to back manager Jose Mourinho with the funds to strengthen his squad in the transfer window.