By Graeme Bailey
The Glazer family are weighing their options regarding their future at Manchester United, with the prospect of them remaining a real possibility at the club. 90 minutes he understands.
United The owners began a sale/investment process in November, with US bank Raine Group handling the bids and offers.
Sheikh Jassim bin Hamad al Thani of Qatar has faced a bid to take complete control of the club, while British billionaire Sir Jim Ratcliffe is also seeking a full takeover.
Al Thani, who insists the bid is not directly linked to the Qatari government, launched the move through his Nine Two Foundation. As for the owner of Ineos, Ratcliffe, he has secured financing for a bid through US banks Goldman Sachs and JP Morgan.
While full takeover offers were invited, it was always emphasized by the Glazers that they were also evaluating investment opportunities that would see the availability of minority interests. This perspective has seen the emergence of a number of stakeholders including Elliot Investment Management, Ares Management Corporation, Sixth Street Partners and The Carley Group.
90 minutes Co-Chair Joel and Avram Glazer have been said to be ready to push the investment option beyond considering offers to sell. If the siblings stay, it is believed that other family members who are also on the board could leave.
Read more about the proposed takeover of Man Utd
It is understood that a minimum purchase price of £6bn has been set by Joel and Avram, however, 90 minutes it has been said that there is also a belief within the family that United it could soon be worth £10bn and they’re not sure now is the right time to sell.
The Glazers are part of the process expected to approve a new world record sports club/franchise sale: the NFL’s Washington Commanders, who are about to change hands for just over $6bn (£5bn).
As owners of the Tampa Bay Buccaneers, they must approve any new owner in the league, and US sources believe the price tag supports the Glazers’ notion that United is worth more than their £6bn starting price tag.
At present the bidding process, which started in February, has entered its third round and the final deadline is April 28. At this point Raine Group will present options to the Glazers, who will then decide how they want to proceed.
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This article was originally posted on 90min.com as The Glazer family consider options as the final deadline for the takeover of Man Utd approaches.
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