Published By: Ritayan Basu
Last Updated: March 11, 2023, 09:51 IST
Manchester United’s Old Trafford
Qatar’s Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe are additionally in line for a takeover at Manchester United
US hedge fund Elliott Investment Management has made it via to the second stage of the bidding course of within the potential sale of Manchester United.
Representatives from the corporate are understood to have been at Old Trafford on Thursday to watch the staff’s 4-1 win in opposition to Real Betis within the Europa League.
The BBC and Sky Sports mentioned the US agency’s proposal was to supply financing to events, together with present homeowners the Glazers in the event that they determine to stay on the membership, moderately than looking for to purchase the Premier League giants outright.
Elliott beforehand owned AC Milan earlier than the Italian membership was bought to American funding agency RedBird Capital final yr.
The information comes days after it was reported that bids from Qatar’s Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe to purchase the membership had progressed to the following stage.
Sky Sports and the Telegraph mentioned these two bidders would now have the chance to conduct due diligence on the membership by accessing detailed monetary info.
Neither bid is known to have met the reported £6 billion ($7.2 billion) asking worth of the Glazers, who mentioned in November they have been contemplating promoting the membership.
The Americans have been deeply unpopular with United followers since burdening the membership with big money owed after their takeover in 2005 and have additionally overseen a decline in United’s fortunes on the sector.
Victory over Newcastle in final month’s League Cup remaining was United’s first trophy for six years. They final gained the Premier League title a decade in the past.
Qatari banker Sheikh Jassim is aiming to take 100% management of the 20-time English champions and has earned help from some followers by pledging to wipe out United’s debt.
However, the Manchester United Supporters’ Trust has expressed concern over Qatar’s human rights report.
Ratcliffe’s INEOS firm is looking for to acquire majority management of United by shopping for out the stake held by the Glazer household.
Ratcliffe, a self-proclaimed United fan, is considered one of Britain’s wealthiest folks due to the success of his international chemical compounds firm.
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(This story has not been edited by News18 employees and is revealed from a syndicated information company feed)
