The Glazers are considering a 60 percent offer from Elliott Management, former owners of AC Milan. Manchester United – Although brothers Joel and Abram would prefer to retain a majority stake and negotiate to reduce Elliott’s bid to 40 percent as the sale of the club enters a protracted second phase.
First bidders including Sheikh Jassim bin Hamad al-Thani of Qatar And Sir Jim Ratcliffe’s INEOSnow awaiting response from Raine Group, but all bids for 100 percent of the club were well below the asking price.
The initial bids submitted on last month’s soft deadline were no more than £4.5bn, although there was an initial feeling that Glazers would accept £5bn, it turned out that the figure was actually £6bn.
Still, there is said to be an uptick around the Al Thani offer, which will represent a Qatari government project. One feeling is that Qatar will eventually pay whatever it takes to secure a bounty asset that will be of immense political value, but there has been fear among a number of interested parties for some time that the Glazers will ultimately only seek minority investment.
There is no complete agreement between the brothers, Joel and Avram Glazer want to either hold the club or have a stake in the club. Second, it made a standout appearance Wembley for Carabao Cup final win against Newcastle United.
Elliott, who owned Milan until last summer before it was taken over from RedBird Capital Partners, could appeal in that sense, and the hedge fund was also keen to fund the RedBird Capital Partners redevelopment.
United was in talks with architecture firm Populous about what could be done with the stadium – in terms of redevelopment or a complete rebuild – and was at the center of the takeover process, given how greatly a modern floor would increase the club’s value.
Bidders pointed out how Tottenham Hotspur Stadium is. added at least £1.5bn to the north London club’s valuebecause the arena has become one of the main entertainment venues in Europe.
Independent turned to Elliott Management for comment.