Elon Musk Potentially Acquiring Manchester United?
Manchester United under Fire, Billionaire's Joke Sparks Relief
In a bold move, a billionaire recently tweeted, "'I'm buying Manchester United, you're welcome,'" stirring up a storm on the global football scene. Yet, the Red Devils continue to be heavily criticized, despite signing superstar Cristiano Ronaldo. It's essential to clarify that Manchester United is not up for sale, as it's listed on a stock exchange and predominantly owned by the American Glazer family, who also own the Tampa Bay Buccaneers.
Elon Musk, Tesla and SpaceX CEO, quickly reassured investors that his tweet was indeed a jest. In fact, he joked about his side hustle being stand-up comedy, which may not appease all shareholders. However, investors need not worry as Manchester United's stocks have soared around 17.5% on a monthly view, independently of Musk's tweet.
High-Profile Investments Galore in the Sports World
Seeing successful entrepreneurs investing in sports teams is far from unusual. Contrary to the German football league, where teams have a fixed owner or group of owners, the franchise system prevails almost everywhere. Naturally, this makes it common for well-known sports and business figures to invest in sports clubs.
Just a few weeks ago, Lewis Hamilton, Formula 1 driver, became a co-owner of the Denver Broncos, an NFL team valued at over a billion dollars, following the Walmart family's takeover. Meanwhile, whispers have been circulating about Amazon founder and ex-CEO, Jeff Bezos, purchasing another American football team, the Washington Commanders, previously known as the Redskins.
Incredibly, famous personalities are expanding their portfolios in the sports sphere. For instance, NFL legends Tom Brady and Russell Wilson, along with their wives, Ciara, have their fingers in various pies, including soccer clubs.
Brady has become a minority owner with a 5% stake in the Las Vegas Raiders (NFL), while also owning a chunk of Birmingham City FC (English Championship) as the advising chairman. Furthermore, Tom Brady's team won the E1 Series electric boat racing championship with Team Brady.
Meanwhile, Wilson and Ciara own a portion of the Seattle Sounders (MLS), an investment they made in 2019.
Even notable figures from the NBA are diving into sports ownership. Star players like LeBron James and James Harden are not left behind, owning minor stakes in Liverpool FC (Premier League) and Houston Dynamo (MLS), respectively.
The trend of celebrity-driven acquisitions doesn't stop there. Ryan Reynolds and Rob McElhenney have drastically transformed Wrexham AFC (EFL League Two) through their FX docuseries, while Macklemore and Ken Griffey Jr. are fellow Seattle Sounders co-owners alongside Russell Wilson.
Recently, Sam Porter and Al Tylis co-manage Club Necaxa (Liga MX) and La Equidad (Colombian Primera A), while also participating in Wrexham ownership. Even Serena Williams, among other athletes, is known for her investments in women's sports.
For soccer teams, recent acquisitions like Birmingham City (Tom Brady) and Bay FC (Sabrina Ionescu) illustrate the growing trend of cross-sport ownership.
- Ronaldo's return to Manchester United hasn't salvaged theteam's reputation from constant criticism, despite being a prominent team under the Glazer family, who also own the Tampa Bay Buccaneers.
- Elon Musk, joke aside, hasn't invested in Manchester United, but his tweet about buying the club sent shareholders into a momentary frenzy about high-profile investments in sports.
- Recent sports franchise purchases have become prevalent, with football teams being a popular choice for investors like Lewis Hamilton, co-owner of the Denver Broncos, and NFL legends Tom Brady and Russell Wilson, who've diversified their portfolios to include soccer clubs.
- As more celebrities and athletes like Serena Williams explore opportunities in women's sports and cross-sport ownership, we see the increasing blurring of lines between entertainment, business, and sports sectors, particularly in football.
