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Can a Football Club Be Worth £5 Billion? | In The City
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March 2, 2023
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March 2, 2023
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27:26Now PlayingThe Manchester United bidding war has focused a lot of attention on the eye-watering prices attached to certain football clubs.
A member of the Qatari royal family and Britain’s richest man submitted offers for the English football giant. The Qataris’ opening offer—roughly £5 billion ($6 billion)—might break records. But still, it may not be enough. This week news broke that the current owners, the Glazer family, think the latest offers could be too low.
In this week’s episode of In the City, reporter David Hellier joins hosts David Merritt and Francine Lacqua for a conversation about the competition to own Manchester United. He says don’t be surprised if more bids surface, and reflects on why the race to own the team feels different from last year’s competition to own Chelsea.
We’re also joined by Dan Jones, a sports business adviser and former Global Lead Partner for Sports Business and Head of Sports Business Group at Deloitte, and Christina Philippou, principal lecturer in accounting, economics and finance at the University of Portsmouth. They discuss why buyers are so confident in their investments, whether prices will keep growing and where Wall Street banks () fit in.
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Is London having another moment? Shaken by Brexit, decimated by the pandemic, threatened by new ways of working and a worsening cost-of-living crisis, the city remains Europe’s (and arguably the world’s) beating heart for finance and for culture. In the wake of turmoil, The City of London is reinventing itself. Every week on In The City, Bloomberg’s Francine Lacqua and David Merritt go behind the scenes in the Square Mile and the wider metropolis, uncovering the stories and speaking to the people that matter.
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