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Amazon Linked With Manchester United Acquisition

Sam Boughedda
Sam Boughedda trader
Updated 13 Dec 2022

Manchester United (NYSE: MANU) shares jumped again Monday after reports said sources close to the club’s sale claim Amazon is a possible buyer.

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YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The news follows a report last month that stated Apple was also an interested party, although that was quickly knocked back by others. However, various outlets have said Amazon is refusing to rule out buying the club after the Glazer family put the club on the market at the end of last month.

Any deal would be worth billions, with reports stating that the asking price is between £6 and £7 billion, however, many deem that to be unrealistic.

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YOUR CAPITAL IS AT RISK. 68% OF RETAIL CFD ACCOUNTS LOSE MONEY

Amazon already holds broadcast rights for some Premier League matches, while it is said to have secured UK broadcast rights to the Uefa Champions League for 2024 to 2027 in a deal worth £1.5 billion. The deal will see the internet giant split coverage with BT Sport.

“Manchester United plc (NYSE:MANU), one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club,” the club said last month. “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.”

Manchester United shares, which were downgraded by Deutsche Bank last week, closed Monday’s session at $20.56 per share.


YOUR CAPITAL IS AT RISK. 81% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.