Man Utd takeover race hots up with ‘as many as EIGHT parties involved in £5billion deal with Glazers’
THE takeover race for Manchester United is heating up with as many as EIGHT parties in talks to buy the club, according to reports.
Controversial current owners the Glazers put the club up for sale in November.
ReutersAs many as EIGHT parties are interested in a Manchester United takeover[/caption]
AFPThe Glazers reportedly want at least £5billon for a full sale[/caption]
PAIneos CEO Sir Jim Ratcliffe is among the interested parties holding meetings this week[/caption]
Since then eight bidders have progressed to the second stage, some with the intention of a full takeover and some interested in helping to finance an interested party.
The Telegraph report the Glazers want at least £5billion for an outright sale.
Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe are two parties interested in a potential full takeover, and their representatives are holding meetings in Manchester this week.
Indeed, they are two of four meetings scheduled before Friday with at least one more to be held next week before the third stage of talks begin.
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Director of football John Murtough is also said to be involved in the meetings.
However, the Qatari and Ineos bids reportedly fall short of the Glazers’ valuation of the club, sparking fears the sale could be extended or even collapse.
The report suggests two more parties are willing to buy Man Utd fully.
A number of US hedge funds – most notably Elliot Management – are interested in providing financing for an interested party.
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They are joined by fellow hedge funds Oaktree Capital, Ares and MSD Partners.
It comes after Uefa were reportedly considering a relaxation of their dual-club competition ownership rules.
This would consequently clear the way for Ratcliffe, who owns French Champions League hopefuls Nice, and remove fears over Sheikh Jassim’s links to Paris Saint-Germain.
