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A number of English clubs have recently been put up for sale, including giants like Manchester United and Liverpool. The existing owners of both of these clubs are looking to sell their stakes for the right price. While these are still early days in the hunt for new clubs, Indian business tycoon Mukesh Ambani is reportedly looking to buy a football club in England. But that club is North London-based Arsenal and not Manchester United or Liverpool, as rumours had earlier suggested.
It’s been about three weeks since the Glazer family announced their intention to sell their stakes in Manchester United, having decided to bring an end to their 17-year-long ownership. Even then, the rumours of Ambani being linked with the Red Devils emerged. But, it has now been reported that it’s Arsenal that the 10th richest man in the world has his eyes on.
As per a report in The Athletic, Ambani’s son Akash, 31, is a big Arsenal fan and that the London club is the one the Ambani family would go for if they did enter the world of football.
Ambani was mooted to be interested in the possible purchase of Liverpool too, soon after the Fenway Sports Group (FSG) announced the decision to sell the Merseyside club.
The report further adds that India’s appetite for investing in non-cricket entities is increasing. Mukesh Ambani, who is reportedly worth USD 90.7 billion at the moment, is reportedly interested in the project.
Simon Chadwick, professor of sport and geopolitical economy at the SKEMA Business School, said on the matter: “There is an increasing appetite in India for non-cricket investment opportunities in sport. This links to India’s digital and entertainment economy. City Football Group invested in Mumbai, and Mumbai is the digital, entertainment and financial capital of India. If you look at some of the things Abu Dhabi’s wealth fund is investing in, they have invested in digital start-ups in Mumbai.
“There is a sense India could be the next great frontier. We’ve already had China, and now we have Saudi Arabia,” he added.
Arsenal’s majority stakes are presently owned by the Kroenke Sports & Entertainment.
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