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Manchester City owner bids for Real Madrid takeover
30 Dec, 09
A Bloomberg news report says that English Manchester City owner Sheikh Mansour Bin Zayed Al Nahyan is making a bid of EUR 1 billion for the Spanish club Real Madrid.
The Sheikh and Florentino Perez, president of Real Madrid are expected to meet early in the new year. If a purchase deal cannot be reached, Al Nahyan may make an offer to take on the club's debts which are said to be around EUR 327 million. The Spanish club will need to get the permission of its shareholders to change the legal status of the organisation.
If this plan goes through, Manchester City should gear up for change as UEFA rules do not allow the same person to own two different clubs. There has been no statement from any of the primary parties concerned.
Source: euFootball.BIZ © Copyright 2006 - 2010 All rights reserved.
30 Dec, 09
A Bloomberg news report says that English Manchester City owner Sheikh Mansour Bin Zayed Al Nahyan is making a bid of EUR 1 billion for the Spanish club Real Madrid.
The Sheikh and Florentino Perez, president of Real Madrid are expected to meet early in the new year. If a purchase deal cannot be reached, Al Nahyan may make an offer to take on the club's debts which are said to be around EUR 327 million. The Spanish club will need to get the permission of its shareholders to change the legal status of the organisation.
If this plan goes through, Manchester City should gear up for change as UEFA rules do not allow the same person to own two different clubs. There has been no statement from any of the primary parties concerned.
Source: euFootball.BIZ © Copyright 2006 - 2010 All rights reserved.