Manchester City Owner in Bid to Buy Real Madrid, AS Reports
Share Business ExchangeTwitterFacebook| Email | Print | A A A

By Sharon Smyth

Dec. 27 (Bloomberg) -- Sheikh Mansour Bin Zayed Al Nahyan, owner of English soccer team Manchester City, wants to buy Spain’s Real Madrid for 1 billion euros ($1.4 billion), Spanish soccer Web site AS reported, without citing anybody.

The Sheikh has commissioned representatives to make the offer and steps have been taken to arrange a meeting with Real Madrid President Florentino Perez, which could take place early in the new year, AS said.

Real Madrid would need to obtain the permission of their shareholding fans to change the club’s legal statutes, AS said. If a deal can’t be reached, Al Nahyan will make an offer for the club’s debt in the event no purchase deal is reached, according to AS.

Neither Al Nahyan nor a spokesman for Perez were immediately available to comment on the report.

To contact the reporters on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net;
Last Updated: December 27, 2009 12:06 EST