Elon Musk’s Manchester United joke masks serious M&A logic, writes LiamWardProud
boss Elon Musk on Wednesday clarified that he was only kidding when he mentioned the idea on Twitter. Still, there’s money to be made for a patient buyer who is willing to focus more on revenue growth than short-term cash flow.The northern English team is in a rough patch, both financially and on the pitch. Last season the club finished sixth in the Premier League, missing out on qualification for the lucrative European Champions League. And revenue growth has slowed.
to Transfermarkt’s valuations. Soccer analyst Swiss Ramble reckons the Glazers have effectively taken $1.4 billion out of the club in total, through dividends, interest payments and other means.Compare that strategy with Manchester City and Liverpool, whose owners have put money in and focused on investing for long-term growth. That’s arguably kickstarted a virtuous circle of better on-field performances leading to more prize money and fans, in turn boosting revenue.
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