Amid reports that second bids for Manchester United are imminent following an extension to Wednesday’s deadline, we answer the key questions of United’s potential takeover.
Have the Glazers put Manchester United up for sale?
The Glazers are exploring strategic alternatives for the club, which means they would be willing to sell for the right price, but they may remain in control and sell a minority stake. There is also the chance that they may continue with business as usual after finding no attractive deal to be done.
How much do the Glazers want for Manchester United?
According to widespread reports, the Glazers hope to sell for £6 billion but may be prepared to negotiate to a slightly lower figure.
Why do the Glazers want to sell Manchester United?
After almost two decades in charge of Manchester United, the Glazers could feasibly realise a return of more than 1000% from their initial investment, which was money they borrowed from various banks.
With Old Trafford in need of renovations, and the biggest clubs such as Real Madrid, Manchester City and Paris Saint-Germain now financially dominating more than ever, there may not be the appetite for investment or strategic renewal from the current owners, and given they are not fans of the club per se, selling could be a purely business decision.
Who is bidding for Manchester United?
Sheikh Jassim bin Hamad of Qatar is one of two parties who have made their bid for Manchester United public, however there is no disclosed detail on how much he or the other bidder have offered for the club.
Another bidder is Sir Jim Ratcliffe, a UK billionaire who owns chemical giant Ineos and Ligue 1 football club Nice, amongst other business interests. Ratcliffe has been linked with many Premier League sides over the last few years, in particular United.
Another organisation that might figure in a deal is Elliott Investment Management. They are said to be willing to offer financing. With no details public, it is difficult to know what that might include, but could potentially be to loan other bidders money to complete a takeover, to offer to buy debt issued by the Glazers, or to take a part-ownership position to allow the Glazer family to raise funds for themselves and/or the club.
There could also be any number of rival bidders who have not yet been made public.What is the deadline for the next bid for Manchester United?
The deadline has reportedly been extended from Wednesday night into Thursday and potentially beyond as second bids are finalised after meetings at Old Trafford between interested groups and employees, including manager Erik ten Hag.
Could the Glazers keep Manchester United?
Yes. If the Glazers want £6 billion as is reported, they may find that nobody is willing to match that asking price. That could leave them holding their existing shares, selling a minority stake directly, or raising funds by issuing debt, and/or more shares to the New York Stock Exchange.