Elon Musk, the world’s richest man, temporarily vented the gloom over Manchester United shares and fans on Wednesday, posting on Twitter that he was buying the English football club. ”
Manchester United, one of the most successful football clubs in the world, has sunk to the bottom of the English Premier League and has seen eight coaches come and go in less than a decade, making some fans and Investors are wondering if the time has come for club owners. American Glazer Family, sold.
Enter the billionaire CEO of Tesla.
“Frankly, I support the left half of the Republican Party and the right half of the Democratic Party! He said in a tweet to his 300 million followers.
Some of the club’s fans had previously taken to Twitter to urge Musk to consider buying the club, complaining of a lack of investment by the Glazers. won the title.
Within six hours, Musk’s tweet had amassed over 500,000 likes on the club’s main Twitter account.
But then a clarification was made.
“No, this is a running joke on Twitter. I didn’t buy any sports teams,” Musk asked if he was serious.
“But whatever team it was, it would be Man United,” he added. “They were my favorite team as a kid.”
Florida-based Glazers, Musk and his attorney did not immediately respond to requests for comment.Manchester United declined to comment.
United fans were not impressed.
Manchester United Fanatics Club Hungary said, “This is just a tweet from someone who doesn’t always think twice before writing something (sic).”
The Kolkata Fan Club added: It would have been awesome if he could have really invested a tenth of what he paid for Twitter to own this legendary club… The entire fanbase is sick and sick of the Glazers.
Still, Mr. Musk’s musings ignited trading in the company’s U.S.-listed shares before the New York market opened. They briefly jumped as much as 17% before settling around his $13.20, about 3% above Tuesday’s close.
Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank, did not believe Musk and United would be a perfect match.
“Elon Musk and his expertise don’t necessarily bring value to Manchester United.
Musk has a history of unconventional personalities, and it can be hard to tell when he’s joking.
“Next time I’m going to buy Coca-Cola to get my cocaine back,” he tweeted on April 27.
Musk’s tweets about a potential acquisition have soured relations with U.S. regulators in the past.
In 2018, he posted on Twitter that “funding secured” for a $72 billion deal to take Tesla private, but did not make an offer. Musk and Tesla each paid his $20 million civil fine, Musk stepped down as Tesla’s chairman, and settled allegations that the U.S. Securities and Exchange Commission (SEC) deceived investors.
The SEC declined to comment on Musk’s latest tweet.
Musk’s ambitions range from colonizing Mars to creating a new sustainable energy economy, building Tesla, the world’s most valuable car company, rocket company SpaceX, and a host of small businesses along the way. I’ve been One is a tunnel maker called the Boring Company.
The uproar from fans over the change of ownership of United, three-time winners of the European Cup, the most prestigious club competition in the global game, is intensifying.
Britain’s Daily Mirror newspaper reported last year that Glazers, who bought the club for £790m ($957m) in 2005, were preparing to sell, but it was an offer of more than £4bn. only if there is
However, Glazers has shown no interest in selling.
British billionaire Jim Ratcliffe is a longtime fan and touted as a potential buyer from the Manchester area. A spokesperson for the chemical company INEOS, of which he is chairman, declined to comment.
There were also unconfirmed reports of Saudi Arabia’s interest in United before the Saudi Arabian PIF investment fund bought another Premier League club, Newcastle United.
The Glazers rarely speak publicly about their ownership of the club, but after heavy criticism of their involvement in the canceled European Super League plans, Joel Glazer wrote an open letter to the club’s fans in May 2021. I wrote
“My family and I care deeply about Manchester United and want to reassure you that we feel a deep sense of responsibility to protect and strengthen its strength in the long term, while respecting its values and traditions.
Forbes this year ranked United, with its huge global fan base, as the third most valuable football club in the world at $4.6 billion, behind Spain’s Real Madrid and Barcelona.
However, the club’s share price has fallen a quarter over the past 12 months and is now valued at just over $2 billion.