US billionaire hints at Premier League membership possession that might impact Man Utd
US billionaire Stephen Pagliuca has claimed he’s “assessing opportunities” of investing in a Premier League membership amid the continuing Manchester United takeover saga. The entrepreneur at the moment owns two sports activities groups and might be in for a 3rd primarily based on his latest feedback.
United are at the moment within the midst of a bidding battle after their homeowners, the Glazer household, put the membership up on the market. The race is at the moment being led by a consortium led by Qatar businessman Sheikh Jassim, with UK billionaire Sir Jim Ratcliffe additionally .
However, a new candidate has arisen after feedback made on the Financial Times’ Business of Football Summit again in March. New Jersey-born businessman Stephen Pagliuca has claimed his is taking a look at funding alternatives within the Premier League, which may add additional issues to the Old Trafford takeover.
When requested whether or not his personal funding agency, Bain Capital, may make funding’s in soccer’s most prestigious league, he stated: “A league like the Premier League, if three or four teams are owned by a sovereign with basically unlimited investment, to be in the Champions League there is basically only one spot left for the other 16 teams that don’t have those kind of resources.
“We’re assessing alternatives [in the Premier League]. I believe there is a larger bar there than there would have been, in phrases that you need to be certain you might have an academy and a construction the place you possibly can sustain with the financial disparity.”
According to Wallmine, Pagliuca is worth around £2.53billion ($3.88bn) thanks to his investments in the stock market. He is also no stranger to owning an elite sports club having been the co-owner of NBA side the Boston Celtics since 2003.
He is also involved in an investor led a consortium that acquired a 55 per cent stake in Italian football club Atalanta. Despite his experience and wealth he is still short of the $6 billion asking price to purchase Manchester United.
It was reported again in June {that a} consortium led by Qatar businessman Sheikh Jassim is at the moment main the race to purchase the Old Trafford aspect. United granted unique negotiation rights to the consortium which noticed the membership’s inventory sky-rocket in a single day.
The news got here as a blow to Sir Jim Ratcliffe, however a reduction to followers with the British billionaire solely desirous to spend money on a 60 per cent stake within the membership. The takeover would subsequently permit the Glazer homeowners to say on board, one thing which followers have been complete heartedly towards.
Manchester United is at the moment on a pre-season tour of the United States and have suffered a latest 2-0 defeat to Real Madrid on the NRG Stadium in Houston, Texas. Off the pitch no settlement on a takeover has been confirmed with each bidders and followers rising impatient because the switch window rolls on.