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Up to four United States-based finance groups have tabled their proposals to Raine Group, the merchant bank acting on behalf of the Glazers, for the takeover of Manchester United, according to a new report.
Sir Jim Ratcliffe and Sheikh Jassim Bin Hamad Al Thani are widely considered the favourites to emerge victorious and finally bring the Glazer rule at Old Trafford to an end.
After missing the first deadline on Wednesday an INEOS spokesperson confirmed to the media that a revised bid was successfully sent to Raine on Thursday evening.
The Peoples Person reported that Sheikh Jassim’s bid also went in on Friday night.
According to Football Insider, there is a bevvy of U.S.-based consortia also keen on a United takeover, although most of them are primarily interested in minority investments.
Football Insider relays, “At least four United States-based finance groups have submitted funding proposals to Man United takeover brokers Raine Group, sources have told Football Insider.”
“Their proposals are to provide capital either for a third party to complete a buyout or for the Glazer family themselves, who could still choose to remain in situ at Old Trafford if their valuation is not met.”
So far, only two of these parties have been publicly confirmed – Elliott Management and Ares Management.
It was believed that Elliott was only interested in providing finance to other bidders or helping the Glazer family in debt financing but in a fresh twist, the hedge fund titans submitted an offer to purchase a minority stake in the Red Devils.
As per The Mirror, if the former AC Milan owners succeed and their bid for buying a minority stake is accepted, the Glazers will in all likelihood remain in situ as United administrators.
Football Insider adds, “It is understood that two more American groups have also made it to the next and final stage of the process, which will see the Glazers evaluate proposals before a final decision before the end of the season.”
The ball is now in the Glazers’ court. Amidst growing fears that they could perform a massive U-turn and renege on their intention to sell the club in its entirety, the next few days are shaping up to be crucial.
The most desirable scenario for a majority of United fans is one in which the Glazers are no longer present and have nothing to do with the affairs of the football club.
There may exist differences in opinion regarding who is the best custodian between Ratcliffe and Sheikh Jassim but one thing that all supporters can agree on is that the Glazers must go.
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