Saudi Arabia might fund Manchester United. Saudi Arabia might fund Manchester United.
Prior to the World Cup, sources claim that Richard Arnold, the CEO of Manchester United, met with Saudi Arabia to discuss sponsorship. However, it has been asserted that conversations “stopped” just before the lucrative deal was set to be signed.
Arnold is reported to have met with officials from the Saudi Tourism Authority regarding the Red Devils’ front-of-shirt sponsor. United has agreed to end its relationship with German software company Team Viewer but the branding will remain on its shirt until a new sponsor is found.
Following discussions held prior to the Qatari World Cup, a contract was supposed to be signed between both parties this week. However, the Saudi Tourism Authority has now pulled out of an agreement.
According to the Middle Eastern publication EPL World, which does not elaborate on the reasons why a transaction has fallen through. Saudi Arabia’s growing interest in football has drawn criticism in recent years due to its dismal history with human rights.
The Saudi Public Investment Fund acquired an 80% ownership in Premier League team Newcastle in October 2021. The takeover has received harsh criticism from human rights organizations.
After their £235 million sponsorship agreement with Team Viewer was canceled earlier this month, United is looking for a new jersey sponsor. The share price of the software company, which gained notoriety during the COVID-19 pandemic, has decreased.
Manchester United will have the option to repurchase the rights to the club’s jersey-front sponsorship, according to a club statement from December 15.
“United will be taking the opportunity to commence a focused sales process for a new shirt front partner.”
The Red Devils, meanwhile, are likely to spend in January despite a huge £150m outlay last summer. A striker is high on the agenda, with Erik ten Hag insisting he needs a new forward following the departure of Cristiano Ronaldo.
Ronaldo was axed in November following a fiery outburst about Ten Hag and other club officials in an interview with Piers Morgan. The 37-year-old has been linked with Saudi outfit Al-Nassr in a whopping £175m deal.
United missed out on PSV star Cody Gakpo, who will join north-west rivals, Liverpool, when the January window opens, and must now turn their attention to other targets.
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