The Glazer family considers its selections as definitive. The deadline for Man United’s takeover approaches
The Glazer family is reviewing their choices for their future at Manchester United, with the chance of staying at the club a serious possibility, according to 90min.
In November, United’s owners began a sale/investment process, with American bank Raine Group handling offers and bids.
Sheikh Jassim bin Hamad al Thani of Qatar has led a bid for ultimate control of the club, while British billionaire Sir Jim Ratcliffe is also interested.
Al Thani has made the offer through his Nine Two Foundation, which he maintains is unrelated to the Qatari government. Ratcliffe, the owner of Ineos, has received funds for a bid from American firms Goldman Sachs and JP Morgan.
Though full takeover offers have been solicited, the Glazers have always stated that they are also evaluating investment options that would result in minority holdings becoming available. A number of firms have expressed interest in this opportunity, including Elliot Investment Management, Ares Management Corporation, Sixth Street Partners, and The Carlyle Group.
90min has been informed that co-chairman Joel and Avram Glazer are prepared to promote the investment option in addition to reviewing sale offers. If the brothers stay, it is possible that other family members who are also on the board will leave.
Joel and Avram are said to have set a minimum acquisition price of £6 billion, but allfootballevents has learned that the family believes United might soon be worth £10 billion and that now is not the time to sell.
The Glazers are involved in the process that will sanction the new world record sale of a sports club/franchise: the NFL’s Washington Commanders, who are poised to change hands for little more than $6 billion (£5 billion).
They must approve any new owners in the league as owners of the Tampa Bay Buccaneers, and American sources believe the price supports the Glazers’ belief that United are worth more than their initial £6 billion asking price.
As of now, the bidding process, which began in February, is in its third phase, with the final deadline set for April 28. Raine Group will now give the possibilities to the Glazers, who will then determine how to continue.