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THE Glazer family have “pushed the deadline for a potential sale of Manchester United back until the start of the transfer window in June”.
United’s owners initially aimed to complete a sale before the end of April. However, as reported by The Telegraph, if the Glazers are to cash in on the (English Premier Soccer League) club then June is considered to be a more realistic timeframe.
The Glazers want at least 6 billion Pounds if they are to sell the club, but the current offers from Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe fall short of that valuation.
Last Thursday officials from Elliot Management met with Raine, the merchant bank running the process. Rothschild, the Glazers’ financial advisors, were also in attendance. In addition, representatives from Elliot watched United’s win over Real Betis in the Europa League on Thursday at Old Trafford.
Next week, Sheikh Jassim’s bid and Ratcliffe’s Ineos Group will attend detailed presentations at Old Trafford. Although only the two aforementioned parties have gone public with their bids so far, there are at least two other parties who are interested in buying United.
Elliott are not planning to buy the club but are willing to help finance a takeover from an interested party. However, former United defender Gary Neville fears that the Glazers are using Elliott to stay in control or push the price of a sale up.
Responding to a tweet by Sky Sports News’ chief reporter Kaveh Solhekol, Neville said: “Nope! This looks like it’s a Joel and Avi Glazer play to either ‘stay in control’ or ‘force the other bidders up.’ Go on their website. They aren’t an owner of Manchester United!”. (Source: www.dailymail.co.uk)
derick.khumalo