The Glazers will weigh up minority offers for Manchester United as the club’s sale enters its second stage, reports the Independent. Elliott management have made an offer of financing. There were initial reports that the investment management firm wanted to buy 60% of the club. However, they have since denied that. Sheikh Jassim bin Hamad al-Thani and Sir Jim Ratcliffe offered £4.5 billion for a complete takeover. It is short of the desired value as the Glazers want £6bn. Some family members want to keep the club, while others want to retain a stake. The Glazerts could end up seeking minority investment as they consider what to do with renovating Old Trafford. Elliott have financial assets worth around £59bn. The New York-based activist fund sold AC Milan for £1bn last August. They appear keen on acquiring stakes in another big club. Their offer could also help provide debt funding for the new stadium. The Glazers would maintain an investment in the club if they accepted Elliott’s offer. A modern ground would see the club’s value soar, and Man United remain in talks with architects. They are considering rebuilding or redeveloping Old Trafford, which has been central to the takeover process. The Glazers were hoping to get the takeover done within the first quarter of the year or by the end of April. However, May looks like a more realistic target given the situation. The bidders may need to move close to Man United’s £6bn asking price for the Glazers to take them seriously. It could be the only way for a complete takeover to go ahead.
Glazers consider minority investment for Man United as Elliott make financing offer
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