Ares Management Corporation, one of the groups interested in acquiring minority stakes in Manchester United, are now in discussions with Chelsea and are willing to provide investment, as reported by the Telegraph.
In April, the US-based investment firm was associated with a potential interest in the Red Devils, along with Elliot Investment Management, Sixth Street Partners, and The Carlyle Group.
Since the Glazers, the current owners, have not provided any updates on their intentions to accept a complete or partial buyout of United, Ares Management Corporation are now exploring other opportunities, including engaging with Chelsea.
Last November, the Glazers put Man United up for sale, and both Sheikh Jassim bin Hamad al Thani and Sir Jim Ratcliffe have been interested in completing a takeover.
The current club owners are also open to securing investment while retaining control, as they believe the club’s value could double over the next decade.
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Selling a portion of their stakes to a minority shareholder would provide the necessary funding to implement significant changes, particularly for the much-needed upgrades at the Carrington training ground and Old Trafford stadium.
However, one of the potential investors is now exploring other opportunities elsewhere, as the Glazers have remained silent on their plans in recent months.
Ares Management Corporation recently confirmed investing an additional £58.8 million into David Beckham’s Inter Miami CF after Lionel Messi’s arrival.
Last year, they raised £3.2 billion, more than twice their initial target, to invest in sports, media, and entertainment and had expressed interest in investing in United.
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Apart from Inter Miami CF, Ares also holds stakes in Atletico Madrid and Eagle Football Holdings, which backs Crystal Palace and Olympique Lyonnais.
While Chelsea are open to receiving investment from interested parties, there are no guarantees that they will do business with Ares Management Corporation.