Glazer family could end up STAYING at Manchester United after receiving backing from American hedge fund Elliott investment
- Formal offers on the table at Old Trafford
- Takeover could still happen
- Current owners also open to investment
WHAT HAPPENED? The American owners – who have been the subject of various protests down the years from disgruntled supporters – have opened themselves up to offers from interested parties. They have, however, always been eager to point out that fresh investment in United would be as welcome as a complete changing of hands.
THE BIGGER PICTURE: With that in mind, ESPN reports that American hedge fund Elliott Management have expressed interest in pumping funds into the Premier League outfit without taking control of them. If they were to become involved with the Red Devils – having previously financed former AC Milan owner Li Yonghong – then Joel and Avram Glazer could remain in place at Old Trafford.
AND WHAT'S MORE: Elliott Management’s proposal is said to be for “possible financing, not a bid for the club” and they boast assets of $55 billion (£46m), which would allow them to become heavily involved in a team that is said to be on the market for between £5-6 billion ($6-7bn).
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WHAT NEXT? As the Glazer family explores “strategic alternatives” at United, they have at least two bids for complete control of the club on the table – which were made prior to last Friday’s deadline – with Britain’s richest man, Sir Jim Ratcliffe, and Qatari Sheikh Jassim Bin Hamad Al Thani both in the running to take the reins of a global superpower.