Sources: Major update on Glazers aborting Man United takeover
The Glazer family are still prioritising a full sale of Man United as opposed to minority investment, sources have told Football Insider.
It was reported earlier this week that the family, who remain wildly unpopular among most of the club’s fanbase, are gravitating towards securing external finances to remain in situ at Old Trafford.
Four US investment firms – Elliott Management, Ares Management, Carlyle and Sixth Street Partners – have submitted financing proposals instead of full takeover bids.
Their capital would likely be used to fund infrastructure upgrades that are set to cost billions, such as the redevelopment of Old Trafford and the Carrington training complex.
But two financial sources have told this site that a full rather than partial sale continues to be the Glazers’ preference despite the fact their £6billlion valuation of the club has not been met.
Bids from Sheikh Jassim bin Hamad al Thani’s Qatari consortium and Sir Jim Ratcliffe’s Ineos group are currently several hundred million short of that benchmark.
Both parties are expected to submit revised offers ahead of a third and final round of bidding next Friday (28 April).
Raine Group, the company overseeing the process, initially wanted to conclude proceedings in the first quarter of 2023, but it quickly became apparent that deadline was unrealistic.
It is now understood that a resolution, whether that be in the form of a full or partial takeover, is unlikely to arrive until after the end of the season.
That will disrupt summer preparations for Erik ten Hag, whose side were dumped out of the Europa League at the quarter-final stage after a 3-0 defeat on the night confirmed a 5-2 loss on aggregate to Sevilla on Thursday (20 April).
In other news, Burnley ready to sell Wout Weghorst after Man United latest.