Rumor circulates about potential acquisition of Manchester United by Elon Musk
Rewritten Article:
Elon Musk, the billionaire CEO, caused a stir on Twitter yesterday with a jab at Manchester United, saying, "Also, I'm buying Manchester United, you're welcome." Despite significant investments like Cristiano Ronaldo, the club continues to face criticism for a lack of change. The Glazer family, American owners of Manchester United and the Tampa Bay Buccaneers, primarily own the club, which is publicly listed. Musk later joked that he was merely indulging in his side job - stand-up comedy.
While shareholders may find his humor questionable, investors need not worry, as Manchester United's stock has seen a climb of approximately 17.5% on a monthly view, irrespective of Musk's tweet.
Investments in sports clubs by successful entrepreneurs are far from uncommon. Unlike European clubs that are community-owned, most American teams operate under a franchise system. This often leads to high-profile figures from business and sports investing in sports clubs.
For instance, Formula 1 driver Lewis Hamilton recently became a co-owner of the Denver Broncos, a billion-dollar NFL team, following a takeover by a Walmart family-led group. Similarly, there have been longstanding rumors of Amazon's Jeff Bezos planning to acquire another NFL team, the Washington Commanders.
Stan Kroenke, a real estate tycoon and sports team owner, is known for his ownership of the Los Angeles Rams in the NFL. He initially acquired a 30% stake in the St. Louis Rams and later became the sole owner in 2010. Arctos, a private equity firm, is also set to acquire an 8% stake in the Los Angeles Chargers. Steve Ballmer, former CEO of Microsoft, owns the Los Angeles Clippers in the NBA, demonstrating tech entrepreneurs' growing interest in sports ownership.
The NFL's recent decision to allow private equity investment has opened up uncharted waters for entrepreneurs and investors to venture into American football. These trends highlight the potential for sports investments as a valuable addition to any diverse portfolio.
- Elon Musk's humorous comment about buying Manchester United showcases the increasing trend of successful business figures, like himself, Lewis Hamilton, Jeff Bezos, and Steve Ballmer, investing in sports clubs.
- The NFL's policy that allows private equity investment has attracted the interest of tech entrepreneurs and investors, signifying sports as a lucrative avenue for diversifying one's business and finance portfolio.
