Another U.S. asset manager is throwing its name in the hat for Manchester United.
Ares Management, which has $352 billion in assets under management, has reportedly offered funding to at least one bidder for the Premier League club — who turned it down “because the terms were unattractive,” according to Reuters.
In September, Ares raised $3.7 billion of dedicated funding for sports leagues, sports teams, sport-related franchises, and media and entertainment companies. But it’s unclear if that fund — which has invested in Atletico Madrid and Inter Miami — would finance the Manchester United bids.
Elliott Management previously indicated it would consider financing a bid but has no plans to make its own offer. It isn’t currently aligned with an investor.
Oaktree Capital has also reportedly offered financing.
Only two bids are currently public. Qatari Sheikh Jassim bin Hamad Al Thani confirmed his bid for a full takeover without debt. British billionaire Jim Ratcliffe’s INEOS has also acknowledged a bid.
Bidders have reportedly been instructed to stop criticizing the Glazers — the club’s current owners — in their efforts to acquire the team.
Forbes last valued the club at $4.6 billion, but the sale is expected to fetch the biggest price tag ever for a sports team.