Was joking about buying football club Manchester United, says Elon Musk





Elon Musk says he was joking about buying English football club Manchester United Plc and isn’t out there for any sports activities groups.


After earlier tweeting that he was buying the storied club in a thread joking about his political allegiances, the Tesla Inc. chief govt officer and world’s richest individual walked again from the declare about 4 hours later, simply after midnight New York time.


Musk has a observe document of utilizing Twitter to make jokes and troll the Media, which follows his tweets carefully. The billionaire has additionally run afoul of the US Securities and Exchange Commission, most infamously for tweets in 2018 about taking Tesla non-public. That led to securities fraud prices, and a settlement that included appointing a “Twitter sitter” to approve Musk’s Tesla-related tweets.


More not too long ago, he has drawn scrutiny from regulators over a May 17 tweet that his $44 billion takeover bid for Twitter Inc. “cannot move forward.” Musk backed away from the acquisition final month, spurring a lawsuit from the corporate to make him full the deal.


The newest tweets, regardless that Musk specified they have been a joke and have been made when US markets have been closed, may probably additionally entice regulatory consideration, on condition that Manchester United securities are listed on the New York Stock Exchange.


“When someone in his position makes comments about buying an entity, people start speculating: ‘is he joking, not joking, half-joking?’” stated Hui Chen, an ethics and compliance advisor who served as the primary compliance counsel skilled on the US Department of Justice. “His actions have major impact on markets and he really needs to be cognizant about the potential implications.”


Chelsea Sale


Manchester United is valued at $4.6 billion, in keeping with Forbes. In the latest sale of a Premier League powerhouse, a gaggle led by Todd Boehly agreed to purchase Chelsea FC from sanctioned Russian oligarch Roman Abramovich for £4.25 billion ($5.1 billion), together with future investments.


Andrew Ward, Manchester United’s director of Media relations and public affairs, didn’t instantly reply to an e mail searching for remark despatched exterior of regular Business hours.


Manchester United, which has received a document 13 Premier League titles, is at present final on the desk after a disastrous begin to the season underneath new coach Erik ten Hag. It misplaced its two opening video games — together with a 4-0 defeat to Brentford on the weekend.


Fans have protested the efficiency of the storied club underneath the possession of the Glazer household, which additionally owns the NFL’s Tampa Bay Buccaneers. At the opening dwelling sport of the season — a 2-1 loss to Brighton — a big group of followers walked towards the stadium with banners that learn: “Fight greed. Fight for United. Fight Glazers” and “We want our club back,” the Telegraph newspaper reported.



Manchester United received its final Premier League title underneath legendary coach Alex Ferguson within the 2012-13 season, and has since fallen behind crosstown rival Manchester City, which has received 4 of the previous 5 titles. Wantaway star striker Cristiano Ronaldo will probably be allowed to depart Manchester United this summer season if he can discover a club to purchase him, the Telegraph reported.

Business-standard.com/_media/bs/data/general-file-upload/2020-09/mail.png”/> Dear Reader,

Business Standard has all the time strived onerous to offer up-to-date info and commentary on developments which are of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on the way to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these troublesome instances arising out of Covid-19, we proceed to stay dedicated to holding you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.

We, nonetheless, have a request.

As we battle the financial influence of the pandemic, we want your assist much more, in order that we will proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our Online content material. More subscription to our Online content material can solely Help us obtain the targets of providing you even higher and extra related content material. We imagine in free, honest and credible journalism. Your assist by means of extra subscriptions can Help us practise the journalism to which we’re dedicated.

Support high quality journalism and subscribe to Business Standard.

Digital Editor

Leave a Comment