How Rupert Murdoch Changed Sports Media Forever
Reports earlier this week indicated that the Glazer family is close to securing minority investment in Manchester United — thus maintaining majority control of the club.
Nevertheless, one of the finalists to buy the team outright is still confident he’ll succeed.
Sheikh Jassim bin Hamad Al Thani — chairman of the Qatar Islamic Bank and a member of the Qatari royal family — believes that the Glazers will accept his reported bid of at least $6.2 billion to buy the majority stake in Man United.
Sheikh Jassim has flaunted the fact that he will not need to borrow money to pull off the purchase, while his fellow finalist, the British billionaire Jim Ratcliffe, would reportedly need to take on debt to finance his bid.
A third finalist to buy the team outright, Finnish billionaire Thomas Zilliacus, exited the bidding war after The Raine Group, the facilitator of the sale, asked for a third round of bids.
The Carlyle Group, which is the largest private equity firm in the world, has previously expressed interest in buying a portion of the team, as have Elliott Investment Management, Ares Management Corporation, and Sixth Street Partners.
Shares likely to be sold are those owned by Kevin, Bryan, and Edward Glazer, and Darcie Glazer Kassewitz — all of whom have indicated they would sell for the right price.
Their siblings, Joel and Avram Glazer, are Manchester United’s co-chairmen and have shown reluctance to sell the team as the sale process has dragged on.
