March 01, (THEWILL) – The Glazer Family has no plans to sell Manchester United unless a potential buyer is willing to meet their valuation, according to reports monitored by THEWILL.
Raine Group, the American investment bank, who handled the sale of Chelsea last summer, was appointed to oversee bids, after the Glazers announced in November that they would consider outside investment or a full sale of United. A “soft deadline” of February 17 was set for interested parties to present their offer and provide proof of funds, but it appears that no one has met the Glazers’ asking price, which is believed to be around £6m.
While only two bidders have publicly confirmed their interest, INEOS owner chairman and CEO Sir Jim Ratcliffe and Sheikh Jassim bin Hamad Al Thani, other potential buyers have expressed interest in acquiring the club. However, their identities remain confidential, as all parties involved have signed a non-disclosure agreement.
Raine Group is currently reviewing each bidder, but it is unclear whether they have responded to all interested parties. Although the COVID-19 pandemic has had a devastating impact on sports teams worldwide, including Manchester United, Genevra Associates, another bidder for the club, has confirmed their interest in working with the current ownership.
The Glazers are open to possible investments, as they believe United is a solid investment with “fantastic upside potential and many millions of passionate fans globally,” according to Irfan Khan, Partner and Digital Economist at Genevra. Despite the ongoing interest, the Glazers’ stance remains firm that they will only sell to a bidder who can meet their valuation.
About the Author
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
