Man Utd sale update: Thomas Zilliacus calls for rival bidders to JOIN FORCES in incredible joint £6bn takeover
- Finnish entrepreneur wants democratic model
- Insists his bid can rival Ratcliffe & Sheikh Jassim
- Glazers want £6bn for Man Utd
WHAT HAPPENED? The Finnish businessman confirmed he'd submitted an offer to buy United – which is funded by his investment firm XXI Century Capital – and has called on the rival bidders to work together to prevent the Glazers from driving up the price and earning more from the sale.
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WHAT THEY SAID: Speaking to the Manchester Evening News, Zilliacus said: "The formal bid we have submitted is, I dare to say, on the same level and in line with the other bidders that have been discussed in public. We are discussing with a number of parties and if we are allowed to proceed, then we will select the ones who fit best into the framework in what we want to achieve with the club.
"To bid against each other would just drive up the value price, it benefits no one else but the current owners. They will walk away with a massive premium. Instead we should focus on what can we do for Manchester United."
THE BIGGER PICTURE: Zilliacus is seen as an outside candidate to be successful in the bidding process for United, with Sheikh Jassim and British billionaire Sir Jim Ratcliffe both submitting their second bids after meeting with Old Trafford officials last week. Zilliacus' group want to give power back to the fans, allowing them to own half the club between them. He added: "This is no ego trip, I want the club to benefit from its owners."
IN THREE PHOTOS:
WHAT NEXT FOR THE TAKEOVER? The deadline for submitting bids has now passed, so the Glazers will consider all offers. They're expected to complete the sale at some stage in April although there is also the possibility that they reject the takeover approaches.