Glazers offered financial backing to STAY at Man Utd by US billionaire hedge fund company Elliott Management
THE Glazer family have reportedly been offered the financial backing to STAY at Manchester United by hedge fund company Elliott Management.
The current owners are looking to sell the club and are supposedly demanding £6billion in order to hand over the Red Devils.
However, there is a chance that the Glazers stay at Old Trafford after being offered support by Elliott Management.
They have entered the takeover race and presented a way for the current owners to stay.
ESPN report that the US billionaire group do not want to buy Man Utd outright and their proposal is “possible financing, not a bid for the club.”
They would instead look to help finance United, which means they may help clear debts, or obtain part-ownership, or potentially both.
This would help the Glazers remain at Old Trafford as Elliott Management’s cash injection could also assist them do things like renovate Old Trafford.
The New-York based business supposedly has around £46billion in assets and was founded by Paul Singer.
The company has experience at financing football clubs, having pumped funds into AC Milan before they were sold in 2022.
Man Utd legend Gary Neville fears the Glazers will remain as significant shareholders and Elliott Management provides them with that exact opportunity.
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Although, if Joel and Avram Glazer do want to step away from the club completely, then they have two bidders.
One of Britain’s richest men Sir Jim Ratcliffe and chairman of the Qatar Islamic Bank, Sheikh Jassim Bin Hamad Al Thani, have both tabled offers.
Ratcliffe, who also owns French side Nice, is a boyhood Man Utd fan and made his money via chemical company INEOS.
Meanwhile, Sheikh Jassim has pledged to get rid of debts but would need to prove he is not linked to the Qatari owners of Paris Saint-Germain or the teams may not be able to play in the same European competitions.
Any deal that happens will be overseen by US bank Raine, who took control of the £2.5billion sale of Chelsea to Todd Boehly last May.