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Sunday, April 21, 2024
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Glazers Move Closer to Outside Investment, Keeping Man United

  • The Glazers hope to double the value of the club in the next decade.
  • Manchester United has multiple finalists interested in buying the club outright.
An outside view of Manchester United ground Old Trafford.

It’s looking more and more likely that Manchester United won’t be under new majority ownership after all.

Executive co-chairmen Joel and Avram Glazer are confident they’ll secure outside funding that will allow them to remain owners of Man United and double the value of the club over the next decade, according to ESPN.

Several notable firms — including Elliott Investment Management, Ares Management Corporation, and Sixth Street Partners — have all thrown their hat in the ring for a potential stake in United.

Most recently, The Carlyle Group has engaged in talks with the Glazers about a potential minority investment, according to multiple reports. With over $370 billion in assets, U.S.-based Carlyle is one of the largest private equity firms in the world.

If Joel and Avram Glazer are able to lock up the cash injection, their siblings and fellow directors Kevin, Bryan, Edward, and Darcie could offload their shares.

A view of a Manchester United corner flag during a night match.

Finnish Billionaire Exits Manchester United Bidding

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Selling minority shares and avoiding an outright sale would be an unwelcome development for the finalists looking to purchase the club outright.

Qatar’s Sheikh ­Jassim bin Hamad Al Thani and U.K. billionaire Jim Ratcliffe each reportedly submitted bids for more than $6.2 billion to buy Manchester United — which would have made the club’s sale the most expensive in the history of professional sports.

However, the Glazers are looking for around $7.4 billion to sell the whole thing, opening up a third round of bidding when that number wasn’t met.

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