Rumor swirls about Elon Musk potentially acquiring Manchester United football club.
In a world where business and sports intertwine, notable figures from the entrepreneurial realm have been making their mark in sports club ownership. This trend was recently highlighted by Elon Musk, CEO of Tesla and SpaceX, who jokingly tweeted about purchasing Manchester United, a move that reflects a growing global interest in sports business investment.
However, Musk's tweet was just a jest, and Manchester United remains under the ownership of the American Glazer family, who also own the Tampa Bay Buccaneers. The club, currently under heavy criticism, saw a surge in its stock, up around 17.5 percent on a monthly view, but the tweet did not significantly impact its financial standing.
The club system, where ownership is shared among multiple parties, is not uncommon in sports, especially in football. Notable examples include Sheikh Mansour bin Zayed Al Nahyan, owner of City Football Group which operates Manchester City and other clubs, and Shahid Khan, owner of English football club Fulham as well as the NFL's Jacksonville Jaguars.
Recently, Formula 1 driver Lewis Hamilton joined this exclusive club, becoming a co-owner of the billion-dollar NFL team, the Denver Broncos. Other celebrities, such as Snoop Dogg, have also entered the fray, joining ownership groups of football clubs.
This trend extends beyond celebrities, with family offices and ultra-high net worth individuals investing in football clubs via firms like Brera Holdings, which owns multiple clubs in Europe and Africa. Woody Johnson, owner of the New York Jets, has also expanded his sports portfolio by acquiring shares in Crystal Palace.
Rumors of another major player in the business world entering sports club ownership have been swirling. Jeff Bezos, founder of Amazon, is rumored to be planning a takeover of the Washington Commanders, another American football team. This potential move, if it were to happen, would further solidify the trend of business magnates venturing into the world of sports.
- Despite Elon Musk's humorous tweet about buying Manchester United, the football club remains under the Glazer family's ownership, just like their ownership of the Tampa Bay Buccaneers in American football.
- The ownership structure of sports clubs, particularly football clubs, often involves multiple parties, as seen in Sheikh Mansour bin Zayed Al Nahyan's City Football Group and Shahid Khan's ownership of Fulham and the Jacksonville Jaguars.
