Saudi Crown Prince Has New $3.9bn Bid For Manchester United Rejected - Reports

Saudi Arabia’s Crown Prince Mohammed Bin Salman is preparing a third takeover bid of English football giants Manchester United, according to the latest media reports

British tabloids Daily Mirror and Daily Star reported at the weekend that a second bid of £3billion ($3.9bn) from the Crown Prince had been rejected.

Current United owners, the Glazer family from the US, bought the English Premier League side for £790 million ($1bn) in 2003.

They had previously showed an unwillingness to sell, but co-owner Kevin Glazer last week put his 13 percent stake in the Red Devils, worth £270m ($350m), on the New York Stock Exchange.

United already have business interests with Saudi Arabia, with Saudi Telecom the club's official integrated telecommunications partner.

The club also signed a memorandum of understanding with the General Sports Authority of Saudi Arabia last year to help develop football industry in the country.

According to the report, potential buyers would have to pay in the region of £4bn ($5.2bn) to buy the Old Trafford-outfit, who currently sit in 14th position in the English Premier League.