Amancio Ortega is expected to become the new boss of Manchester United Football Club after the Glazers announced the club was up for sale.
The Spanish billionaire founded the multinational clothing company Inditex, whose subsidiaries include fashion retailer Zara.
His work in the real estate industry has also created a huge fortune for him, with properties in Barcelona, Madrid, London, Chicago, Miami and New York among his portfolios.
Ortega has an estimated net worth of $62.6 billion, and according to their ranking, Ortega is the 18th richest person in the world. Live Billionaire List.
According to SAmuel Larkhurst According to the “Manchester Evening News” report, Ortega has informed the club’s senior management that he intends to launch a bid for Manchester United.
The Red Devils will be the Spaniard’s first foray into sport.
Ortega is certainly rich enough to take the club away from the Glazers, who have It is said Set an asking price above the £5bn mark.
With United’s infrastructure in need of immediate investment, a fortune like Ortega’s will be welcomed by the fanbase.
If the fashion mogul puts enough energy into the project, he does have the financial muscle to help the club catch up to their Premier League rivals in terms of pitch improvements and training facilities – areas that have recently attracted attention.
Under the management of the Glazer family, hardly any money was spent on improving the club.
It has become a frequent source of criticism, with Cristiano Ronaldo only recently bemoaning the lack of development since his departure from Real Madrid in 2009.
His contract with the club has since been terminated, but the Portuguese star may have a point in terms of the club’s failure to aggressively pursue excellence when it comes to facility upgrades.
A potential concern among fans over Amancio Ortega’s interest in the club could be succession planning.
Ortega, 86, is likely to want to hand over control of many aspects of the club’s operations to others.
His daughter Maria Ortega Perez could be such a candidate. She is currently chairman of the Zara fashion chain, appointed last year.