Elon Musk says he was joking about buying English football club Manchester United Plc and is not looking for sports teams.
After earlier tweeting that he was buying the legendary club in a thread joking about his political affiliations, the CEO of Tesla Inc. and the world’s richest person returned the claim about four hours later, just after midnight, New York time.
Musk has a habit of using Twitter to crack jokes and troll the media, which closely follows his tweets. The billionaire has also breached the United States Securities and Exchange Commission, notably for his tweets in 2018 about the privatization of Tesla. This led to securities fraud charges and a settlement that included the appointment of a “Twitter gatekeeper” to approve Musk’s Tesla-related tweets.
More recently, he drew regulators’ attention to a May 17 tweet that his $44 billion takeover bid for Twitter Inc. “cannot proceed.” Musk backed out of the purchase last month, triggering legal action by the company to get him to close the deal.
The latest tweets, although Musk clarified that they were a joke and were posted when US markets were closed, could also attract the attention of regulators, given that Manchester securities United are listed on the New York Stock Exchange.
“When someone in his position makes comments about purchasing an entity, people start speculating, ‘is he joking, not joking, half-joking?'” Hui Chen said. , an ethics and compliance consultant who served as the first compliance consultant to the US Department of Justice. “His actions have a major impact on the markets and he really needs to be aware of the potential implications.”
Sale of Chelsea
Manchester United is valued at $4.6 billion, according to Forbes. In the most recent sale of a Premier League powerhouse, a group led by Todd Boehly agreed to buy Chelsea FC from sanctioned Russian oligarch Roman Abramovich for £4.25 billion ($5.1 billion), including future investments.
Andrew Ward, Manchester United’s director of media relations and public affairs, did not immediately respond to an email seeking comment sent outside normal office hours.
Manchester United, who have won a record 13 Premier League titles, are currently last on the table after a disastrous start to the season under new manager Erik ten Hag. They have lost their opening two games, including a 4-0 loss to Brentford at the weekend.
Fans protested the legendary club’s performance under the ownership of the Glazer family, which also owns the NFL’s Tampa Bay Buccaneers. In the home opener of the season – a 2-1 loss to Brighton – a large group of fans marched into the stadium with banners reading: ‘Fight greed. Fight for United. Fight Glazers” and “We want our club back,” reported the Telegraph newspaper.
Manchester United won their last Premier League title under legendary manager Alex Ferguson in the 2012-13 season, and have since fallen behind crosstown rivals Manchester City, who have won four of the last five titles. Wantaway star striker Cristiano Ronaldo will be allowed to leave Manchester United this summer if he can find a club to buy him, the Telegraph has reported.