Manchester United could be set for another significant change in ownership, following a cryptic social media post from Turki Alalshikh, chairman of Saudi Arabia’s General Entertainment Authority.
Alalshikh, who is most widely known for being the face of Saudi’s increased influence on boxing, caused a media uproar on October 8.
The post read: “The happiest news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell it to a new investor… I hope it will be better than the previous owners.”
The statement has sparked widespread speculation across media and football circles, raising the possibility that United could soon become the subject of another record-breaking investment deal.
This follows the club’s recent transition in ownership structure, when Jim Ratcliffe’s Ineos acquired an initial 25% stake in February 2024. The deal was worth £1.25bn and included a £245m investment to bolster club infrastructure.
Ratcliffe’s arrival was seen as a partial answer to fan unrest under the leadership of the Glazer family, who have been criticised for accumulating debt while underinvesting in club facilities. As of United’s latest accounts, released September 17, the club’s debt stands at nearly £1.1bn.
The biggest deal in club football?
Alexander Jarvis, Founder of Blackbridge Sports LLC, a sports investment firm involved in deals with European clubs including Benfica, told Insider Sport the scale of the rumoured sale would be unprecedented.
“It’s obviously a monster size deal if accurate,” said Jarvis.
Jarvis previously acted as a deal originator and advisor to Lenore Sports Partners in its minority investment in Benfica, and facilitated introductions at board level.
As reported by Goal, the Glazers would only entertain a full sale at a valuation of £5.2bn, which represents more than double Manchester United’s current £2bn market value.
Such a price tag would require backing from a sovereign wealth fund or ultra-high-net-worth consortium, which is where the Saudi speculation enters the picture.
The Ronaldo connection
One rumour involves Cristiano Ronaldo. The former Manchester United forward has strengthened his ties with Saudi Arabia since joining Al Nassr in early 2023.
Ronaldo has launched multiple ventures in recent years, including his own YouTube channel as well as co-founding the independent film studio UV Marv with Hollywood director Matthew Vaughn.
Alalshikh himself is no stranger to football ownership. He previously held stakes in Egyptian side Pyramids FC from 2018 until 2019 and was majority owner of Spanish club UD Almería from 2019 until 2025.
His current role as GEA chairman has made him one of the key personnel behind Saudi Arabia’s wider sports push, especially in combat sports like boxing.
While the rumours remain unconfirmed, there are subtle indicators worth noting. As of October 9, Manchester United’s stock had risen just 2% in pre-market trading. This slight jump suggests investors are approaching the speculation with caution.
Industry insiders like Jarvis remain cautious but intrigued. Speaking to Insider Sport, he said: “Anything is possible. Anything…”
