Apple CEO Tim Cook Eyes Manchester United Buyout, But Why?

Apple chief Tim Cook is reportedly interested in buying the UK sports team Manchester United, as local papers reported on Thursday, Nov. 24.

The Daily Star is the first to report that the iPhone maker is considering buying Britain's most famous football club for a staggering £5.8 billion (US$6.9 billion) after owners decided to sell the organization.

Manchester United for Sale

The Glazers, who own Man Utd, reportedly put the team up for sale after giving in to fans who demanded to have them ousted. The leveraged nature of the Glazers' buyout, which added debt to the team, as well as a perceived lack of investment and the dividends the owners took out, have all drawn criticism from United supporters.

According to ESPN, if United were to be sold outright, the club would likely fetch a price well above the £2.5 billion a consortium led by Los Angeles Dodgers part-owner Todd Boehly paid for Chelsea in May.

Local newspapers reported that the Glazers want to sell the soccer team to the highest bidder. Aside from Apple, a few other names have been mentioned as potential buyers.

Daily Star also reports that CEO Tim Cook is eager to explore the possible benefits of owning Manchester United and plans to schedule meetings with The Raine Group, one of the banks chosen to oversee the sale.

The Daily Star adds that Apple could finance the construction of a brand-new stadium. The owners of Manchester United's current stadium, Old Trafford, have recently wavered between making repairs and restorations or starting from scratch.

The Cupertino-based company will make its first attempt to acquire a significant football club with this venture.

Apparently, neither Apple nor Manchester United have confirmed the alleged purchase attempt, according to Apple Insider. Furthermore, The Daily Star did not cite any sources or add attributions for the information and claims in the article.

As per a Daily Mail report, Zara founder Amancio Ortega has reportedly entered the race to acquire Manchester United.

Meanwhile, Twitter CEO Elon Musk also jokingly announced on the website this summer that he would be buying the team. The 51-year-post old's received more than 800,000 likes.

First Ronaldo, Now Manchester

Manchester United's sale comes on the heels of the departure of soccer star Cristiano Ronaldo. Cristiano Ronaldo, who has 145 goals in 346 appearances for Manchester United, has opted to leave the club with immediate effect.

According to NPR, the 37-year-old forward's contract was terminated after he gave an explosive interview in which he criticized manager Erik ten Hag and the club's owners.

"I love Manchester United and I love the fans; that will never change," Ronaldo told the press. "However, it feels like the right time for me to seek a new challenge."

Stay posted here for more updates.