Manchester United: Bad news for ‘Glazer Out’ fans

The Glazer family could yet stay on as owners of Manchester United and throw plans to sell the club this British summer in the bin.

“Joel and Avram Glazer are increasingly confident of securing the outside investment that will enable them to remain as Manchester United owners and potentially double the value of the club over the next decade, a source has told ESPN,” writes a leading journalist Mark Ogden.

He further says that the current United owners are considering “all strategic alternatives, including new investment into the club, a sale, or other transactions,” this will help make funds available to upgrade Old Trafford and Carrington, the club’s training ground.

Uncertainty reigns as Glazer family stall

Who knows when the Manchester United sale talks will progress following an update that the current family that owns the club wants more money.

The two leading bidders – Qatari banker Sheikh Jassim and Ineos owner Sir Jim Ratcliffe both submitted a second bid – have been told that there is now a third deadline to buy the club.

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This comes as neither party nor Finnish entrepreneur Thomas Zilliacus met the valuation of the Glazer family.

MANCHESTER UNITED WILL COST £6 BILLION

The US owners want as much as £6 billion for United despite having bought it for only £790m in 2005.

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The club was first put up for sale in November 2022 and despite good offers, there has been no forward movement.

The second stage ended last month with uncertainty over whether the process had reached the point of exclusivity being granted.

The Glazers might opt not to sell outright which means selling off just some of their ownership.

It is understood the Glazer family, who said they were considering selling to “explore strategic alternatives”, have now opted to extend the process.

This means potential purchasers, either of the whole club or just a partial stake – an option believed to be appealing to bidders from Elliott Investments – must put more offers forward in the hope of concluding a deal for Manchester United.

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MORE BIDS WELCOMED

It had been initially hoped the process being run by the Raine Group would be completed by the end of the season, but the additional time for new bids for Manchester United means that is now unlikely to happen.

Sheikh Jassim wants to buy 100% of the club. Manchester raised Ratcliffe wanted to buy the Glazer family’s 69% shareholding.

It is estimated rebuilding Old Trafford, the Manchester United home ground, on its current site would cost a minimum £1bn.

“Glazers don’t think current offers for Manchester United are big enough so bidders will be invited to make third round of offers by the end of April,” tweeted respected journalist Miguel Delaney.

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