your current location is：Home > Finance > NewsletterHomeNewsletter

Elon Musk, the world’s richest man and Tesla CEO, tweeted that he would buy the Premier League club Manchester United.

　　"I'm buying Manchester United, you're welcome," Musk tweeted.

　　The tweet quickly aroused heated discussions among netizens around the world. Many fans commented below, hoping that Musk would buy Arsenal, Liverpool in the Premier League, Yankees in the United States, etc.

Source: Screenshot of Musk's Twitter

　　The media said it was unclear if Musk was joking or if he was really looking to buy Manchester United. After all, it's not the first time the richest man's Twitter has made jokes on social media.

　　Sure enough, more than 4 hours later, Musk refuted the rumor under this tweet: "No, this is just an old stalk on Twitter, I will not buy any sports teams."

Source: Screenshot of Musk's Twitter

　　As of August 17, Beijing time, Musk ranked first in the world on the Forbes real-time rich list, with a net worth of $270.1 billion (about 1.82 trillion yuan).

Source: Screenshot of Forbes website

　　According to public information, Manchester United is currently owned by the Glazer family of the United States. As of press time, they have not responded to the matter.

　　The richest man always goes back on his word

　　It's not the first time Musk has backtracked on an acquisition.

　　One of the big deals the richest man has been involved in this year is to negotiate the acquisition of Twitter first, and then temporarily terminate the deal.

　　In April of this year, Musk submitted documents to the U.S. Securities and Exchange Commission, announcing that he planned to spend $43 billion (about 291.7 billion yuan) to acquire Twitter.

　　After the announcement, Maas also hinted on social media that he was interested in acquiring The Coca-Cola Company. At the time, Musk tweeted: "I'm going to buy Coca-Cola and add cocaine to it."

Source: Musk's selfie on social media

　　But this soon disappeared. Musk later said that after negotiation, an agreement has been reached with Twitter on the acquisition.

　　But on July 8, things turned around, and Musk suddenly notified Twitter that it would terminate the acquisition agreement, citing failure to disclose key information.

　　In response, Twitter filed a lawsuit against Musk in Delaware Chancery Court on July 12.

　　The lawsuit filed by Twitter states: "Mr. Musk has publicly trumpeted in front of the public that he will acquire Twitter and signed an acquisition agreement that is beneficial to the seller. He (Musk) clearly believes that he is free to change his mind and destroy Twitter, destroying its operations and shareholder value and then walking away, is different from being bound by the Delaware contract statute." Twitter accused Musk of violating a long list of buyout agreements that "cast a shadow on Twitter's business."

　　A U.S. judge said Musk's acquisition of Twitter will be heard from October 17 to 21.

　　It is worth mentioning that it was during Musk’s negotiation to buy Twitter that a large number of Manchester United fans called on the Internet that Musk should not buy Twitter and should buy Manchester United.

　　And after the news that Musk announced to acquire Manchester United came out, some fans even designed the post-acquisition jerseys.

Source: Twitter screenshot

　　Manchester United's market value falls by $2.1 billion

　　The reason why Manchester United fans are so strong is because the situation at Manchester United is very bad right now.

　　Manchester United, who has won the Premier League 13 times in history, has not won the Premier League trophy since 2013.

　　In 2022, Manchester United's results are even worse.

　　In the early morning of August 14th, Beijing time, in the second round of the Premier League of the new season, Manchester United lost 0-4 away to Brentford. This is Manchester United's second defeat in the new Premier League season this season, having lost to Brighton 1-2 before. The loss in both rounds put Manchester United at the bottom of the Premier League table for the first time in 30 years.

　　If you count the previous season, Manchester United have lost four in a row.

　　The fans were so dissatisfied with the result that they even planned to protest the owner Glazer family behind closed doors.

　　While the results are not good, Manchester United's business situation is not optimistic. According to media statistics, 10 years have passed since its listing in 2012. The market value of Manchester United has dropped by more than 260 million pounds (about 2.1 billion yuan), from 1.822 billion pounds (about 15 billion yuan) to the present. 1.57 billion pounds (about 12.9 billion yuan).

　　In the third fiscal quarter of 2022 (as of March 31, 2022), Manchester United's total revenue was about 152.8 million pounds (about 1.26 billion yuan), and the adjusted loss was about 22.4 million pounds (about 184 million yuan).

　　British media revealed that in the face of poor management, the Glazer family has already planned to sell Manchester United in 2021, but the price is not cheap, more than 4 billion pounds (about 32.9 billion yuan).

　　A number of Premier League football agents also believe that Manchester United will be sold within the next 24 months.