How Rupert Murdoch Changed Sports Media Forever
More questions surrounding the sale of Manchester United should be answered soon.
The team’s staff is expected to receive “clarity” on its ownership situation before the season ends in May, according to ESPN. There have been concerns the sale process has been stalled as the Glazers hold out for a reported $7.2 billion price tag.
It was recently reported that if no deal is reached by the end of the season, any potential sale could be in jeopardy.
The only two public bids are from Qatari Sheikh Jassim bin Hamad Al Thani and British billionaire Jim Ratcliffe’s INEOS, with the former interested in a full takeover and the latter in a reported 69% stake.
Representatives of the two bids — which reportedly aren’t more than around $5.4 billion — will meet with the club before the end of March. Forbes last valued Manchester United at $4.6 billion.
Elliott Management, Ares Management, and Oaktree Capital have all reportedly offered funding to bidders.
ESPN also reported that the Glazers, who purchased the team in 2005 for $942 million, are prioritizing offers for a full takeover. The family hired the Raine Group in November to explore a full or partial stake sale.
