Zara Founder Worth a Whopping $63 Billion Interested In Manchester United Buyout

Robert Griffin
Amancio Ortega
Shutterstock | 191272820

Manchester United is one of the biggest names in club football. The 144-year-old club is the most decorated team in the English Premier League with 20 league titles to their name and legends such as Cristiano Ronaldo and Wayne Rooney among others as notable players. However, the last decade or so has been dreadful for the club as they have not won a league title since Sir Alex Fergusson left in 2013. A lot of that is down to poor management thanks to incompetent executives hired by the owners. For a long time now, the Glazer family has been public enemy number one in Manchester and after years of protests, it appears as though they are willing to let go of their prized possession.

Manchester United Is Up for Sale

Manchester United
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Last month, a statement put out by Manchester United effectively stated that the club was for sale if the desired asking price was met. The statement said, "Manchester United plc one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club. As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company."

Potential Suitors

Given that United is one of the biggest clubs in world football, it is no surprise that there are a lot of suitors ready to purchase the club. The likes of Jim Ratcliffe of INEOS, a consortium of investors led by David Beckham, Amancio Ortega, and a few other names have been rumored to be interested in buying the club.

Who is Amancio Ortega?

Amancio Ortega
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It is reported that the Glazer family wants $5 billion to part ways with United. One of the front runners in the race to acquire United is Amancio Ortega, the founder of the fast fashion brand Zara. The 86-year-old is worth a whopping $63 billion thanks to his stake in the parent company of Zara, Inditex. Reports suggest that he does not own any other major sports teams at the moment.

Will the Glazers Part Ways?

Ever since they acquired the club, the Glazers have been draining United of money by regularly taking out dividends and huge chunks of profit. They are not obligated to sell the club and are no in no rush to do so either. Therefore, all indications suggest that until and unless their asking price is not met, the Glazers will gladly hold onto their ownership of Manchester United. The Glazer family also owns the Tampa Bay Buccaneers led by Tom Brady.

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