Manchester United takeover: Glazers considering outside investment opportunities ahead of bidding deadline
FollowManchester United has been on sale since last November. While Sir Jim Ratcliffe and Sheikh Jassim bin Hamad bin Al Thani are the frontrunners in bids, with the final deadline for April 28, the Glazers are also considering outside investment options.
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English giants Manchester United was put for sale in the market by the Glazers last November. Since then, it has received multiple buy offers. Britain's richest man Sir Jim Ratcliffe and Qatari royal banker Sheikh Jassim bin Hamad bin Al Thani are considered the frontrunners in the bidding race, with the final deadline for April 28.
Although Ratcliffe is bidding to buy the majority share of 68% held by the Glazers, Sheikh Jassim has bid for a 100% takeover. At the same time, the latter intends to make the club debt-free and invest in infrastructure, with the possibility of having a new home ground for the Red Devils.
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However, 90min has now confirmed that ahead of the deadline, the Glazers have entered talks with outside investors like Elliot Investment Management, Ares Management Corporation, Sixth Street Partners and The Carlyle Group for investment opportunities in the club. It would allow the Glazers to retain their place as the club's owners, including the majority stake.
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At the same time, a significant influx of money would enable the Glazers to invest more into the club and its infrastructure and reduce the debt as much as possible. However, the publication adds that despite the Glazer brothers (Avram and Joel) retaining control of United, it might be possible for other members of the Glazer family to part ways.
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There is also reportedly a feeling within the club that United could be worth £10 billion in a few years to come and that the Glazers feel that selling the club at their current valuation of £6 billion might not be worth it, which would anyways be a record sale in sporting history.
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The Glazers are also currently in the process of owning fellow National Football League (NFL) side Washington Commanders for over $6 billion, besides continuing to hold Tampa Bay Buccaneers. Post-April 28, the Raine Group, overseeing the Red Devils' sale process, will present the options to the Glazers and how they would want to proceed.
