Amancio Ortega is in the frame to become the new owner of Manchester United Football Club, following the Glazers’ announcement that the club is for sale.
The Spanish billionaire founded Inditex, a multinational clothing company that counts fashion retailer Zara among its subsidiaries.
His work in real estate has also contributed to his enormous wealth, with real estate in Barcelona, ​​Madrid, London, Chicago, Miami and New York in his portfolio.
With an estimated net worth of $62.6 billion, Forbes ranks Ortega as the 18th richest person in the world based on its real-time billionaires list.
According to Samuel Luckhurst of the Manchester Evening News, Ortega has already informed senior club executives of his intention to launch a bid for Manchester United.
The Red Devils would be the Spanish’s first foray into the sports world.
Ortega certainly has the wealth to wrest the club from the Glazers, who have reportedly set an asking price above the £5bn mark.
With United’s infrastructure in need of immediate investment, the fan base would welcome wealth like Ortega’s.
If the fashion mogul is committed enough to the project, he has the financial clout to help the club catch up with its Premier League rivals in terms of improvements to the stadium and training facilities, areas that have caused concern among fans. last times.
Under the management of the Glazer family, next to nothing has been spent on club improvements.
That has become a common source of criticism, as Cristiano Ronaldo recently lamented the lack of development since he left for Real Madrid in 2009.
He has since seen his contract with the club terminated, but in terms of the club not proactively aiming for excellence in terms of facility upgrades, the Portugal star may well have been right.
One possible cause for concern among fans about Amancio Ortega’s interest in the club could be succession planning.
At 86 years of age, Ortega likely wants to pass control of many aspects of the club’s operations to someone else.
His daughter, MarÃa Ortega Pérez, could be one of those candidates. She is currently the president of the Zara fashion chain, having been appointed last year.
