World News for Students of English

20-06-2023 15:00

English football club Manchester United is in talks to sell itself for over $6 billion to a consortium led by Qatar’s Sheikh Jassim bin Hamad al-Thani.

The Glazer family, who currently own minority stakes in the club, would sell their shares as part of the deal. The family made its fortune in real estate, retail and healthcare, and it bought the team for 1 billion dollars in 2005. However, the club has seen a decline in its performance under the Glazer family’s ownership, with its last top-flight title won in 2012-13. The Qatari offer is being preferred over a bid from British billionaire Jim Ratcliffe. If the deal proceeds, a sale for more than 6 billion dollars would be one of the largest ever in the sports world. Manchester United’s value would be over 10 times its annual revenue.

While some fans see new ownership as an opportunity for improvement, others are concerned about Qatar’s human rights record.

Difficult words: consortium (an organization of several businesses or banks), stake (a share or interest in a business), annual revenue (the amount of money a company makes during 12 months).

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