Former AC Milan owners Elliott Investment Management have made an offer for a minority stake in Man Utd, according to reports.
Sir Jim Ratcliffe and Sheikh Jassim had previously been the only two bidders who have gone public with their interest in buying the Red Devils from the Glazer family.
Ineos founder Ratcliffe and Sheikh Jassim bin Hamad Al Thani, the chairman of Qatar Islamic Bank and the son of a former Qatari prime minister, are reportedly set to make second improved bids for Man Utd after the Wednesday 9pm deadline to submit revised offers was extended.
A first round of bidding took place last month and it has been reported there are as many as eight separate potential investors.
And now The Times claims that ‘American former owners of AC Milan have tabled an offer for a minority stake’ in Man Utd with Elliott Investment Management initially tabling ‘a proposal offering financing to any potential bidders’.
With the Americans one of the groups of potential bidders given ‘access to key United staff, the club’s US bankers and finance data’ they have ‘now decided to bid for a stake’ in the club.
The Times adds:
‘Sources familiar with the situation have told The Times that an offer was submitted on Wednesday before original 9pm deadline for a“small amount of common equity” in addition to an offer to provide financing for any bidders.
‘It is an interesting development when there is already concern among bidders that a reluctance by any potential buyer to reach the valuation of £6 billion could result in the Glazer family opting for a minority investment rather than a full sale.’
Worryingly for Man Utd supporters ‘the development comes at a time when there is growing concern over whether the Glazers will definitely sell the club’.
And now Finnish entrepreneur Thomas Zilliacus – who is the founder and chairman of novaM Group – submitted a bid for Man Utd yesterday through XXI Century Capital, an investment firm owned by his holding company.
”Any sport club ultimately should belong to its fans” Zilliacus told Pressat.
“The current development, where billionaire sheiks and oligarch take over clubs and control them as their personal playgrounds is not a healthy trend.”
Zilliacus added: “The current market value of the club is just under 3.9 billion USD. That means that if every one of the fans of the club would join in buying the club, the total sum per fan would amount to less than 6 dollars. My bid is built on equality with the fans.
“My group will finance half of the sum needed to take over the club, and will ask the fans, through a new company that is being set up for this specific purpose, to participate for the other half. If every fan joins it means less than 3 dollars per fan.
“Each fan who joins will have access to an app which the fan, from anywhere in the world, can use to participate and cast his vote when deciding on footballing matters relating to the club. No decisions will be taken that are not supported by a majority of the fan base.
“Manchester United should not only be the best football club in the world, it should also be the leading club in the world in working to stop abuse, racism and hate speech in social media and on sports grounds.
“Should we be successful in our bid we will ensure that Manchester United, the best football club in the world, will operate on a foundation of respect, equality, dignity, diversity, racial harmony and democracy, and with its global fan base included and involved in all decisions.”
