Apple, a major US tech company, is reportedly in the running to purchase Manchester United after it was put up for sale by the Glazers.
In a statement released earlier this week, United corroborated the astonishing report that the biggest football club in the world is practically up for sale.
According to a Daily Star report, the biggest tech corporation in the world may be interested in buying United for £5.8 billion now that the team is available.
Although the internet company from California has never owned a significant sports team, it is believed that United’s commercial prospects are the main driver of their interest.
Any potential transaction would almost probably eclipse the £4.25 billion premium that a group led by Todd Boehly paid for Chelsea earlier this year as the most expensive purchase of a football club in history.
Old Trafford, the club’s illustrious stadium, is one of the main issues facing whoever acquires United. The location has long need an upgrade to keep up with the greatest clubs worldwide.
According to estimates, the stadium will cost around £1.5 billion to renovate, making it more expensive than Tottenham’s new stadium, which cost $1 billion.
The stadium, sometimes known as “The Theatre of Dreams,” has been home to United since 1910. The stadium’s most recent renovation, which added 8,000 seats, took place between 2005 and 2006.
When reports of plans to demolish the current stadium first surfaced back in February, Red Devils legend Gary Neville backed calls for the stadium to be completely rebuilt.
His Instagram post reads: “There is a story emerging from Old Trafford that they might rebuild the entire stadium and I have just been asked what I think of it. I actually think that it would be the right move.”
Apple Inc
Apple Inc. is a global American technology firm with headquarters in Cupertino, California.
Apple is the world’s largest firm by market capitalization as of June 2022, the fourth-largest personal computer vendor by unit sales, the second-largest producer of mobile phones, and the largest technological business by revenue (totaling US$365.8 billion in 2021).
Together with Alphabet, Amazon, Microsoft, and Meta, it is one of the Big Five American IT firms.
Steve Jobs, Steve Wozniak, and Ronald Wayne established Apple as Apple Computer Company on April 1, 1976, to create and market Wozniak’s Apple 1 personal computer.
In 1977, Jobs and Wozniak established the business as Apple Computer, Inc. The following machine manufactured by the business, the Apple II, quickly rose to popularity and was one of the first microcomputers to be mass-produced.
In 1980, Apple went public to immediate financial success. The company created computers with cutting-edge graphical user interfaces, such as the first Macintosh, which was introduced in a well-received commercial in 1984.
By 1985, issues with the company’s expensive products and management power disputes had arisen. Wozniak left Apple amicably and moved on to other endeavors, whereas Jobs bitterly left Apple and started NeXT, taking some Apple colleagues with him.
What Is Apple’s Worth?
In August 2018, Apple became the first U.S. company valued at over $1 trillion. This was followed by valuations of $2 trillion in August 2020 and, most recently, $3 trillion in January 2022.
The business is criticized for its environmental practices, business ethics, including anti-competitive practices, and the labor practices of its contractors.
Despite this, the business has a sizable fan base and a high level of brand loyalty. One of the most valuable brands in the world, according to rankings.
Who Else Is Interested In Buying Manchester United?
According to reports, Armancio Ortega, the founder of the apparel company Zara and the 19th richest person in the world, has entered the race to acquire Manchester United.
When the Glazer family, United’s current owners, stated they are now open to selling the club earlier this week, other billionaires were put on high alert.
According to a recent report in the Manchester Evening News, Ortega has already talked with Old Trafford executives to express his interest in purchasing United.
News of rumored interest from Ortega will intrigue supporters eager to see the end of the Glazers’ rule on a day when it was disclosed that Apple is interested in purchasing Manchester United in a £5.8 billion deal.
According to Forbes’ list of the world’s richest billionaires, 86-year-old Ortega is reportedly worth $61.3 billion.
The Spanish fashion entrepreneur has made his money in real estate and fashion rather than managing a sports team in the past.
He founded the Inditex apparel enterprise in 1975 and currently owns 59% of it. Last year, he named his daughter Maria Ortega Perez chairwoman of Zara.
The father of three children Ortega would be a change from the Glazer family, who have controlled Manchester United since 2005.
But since United continues to be among the most lucrative organizations in all of sport, there is expected to be a lot of competition for the ownership of the club in the coming days.
