The Glazer family has been offered a lifeline to retain their majority ownership in Premier League club Manchester United in the form of U.S. hedge fund Elliott Management. The New York City-based hedge fund expressed its interest in investing in a Premier League club and has not ruled out Man Utd as an option.
While Manchester United fans continue to protest against Joel and Avram Glazer’s ownership of the club, the pair would be able to put the ongoing sale process on hold should a deal with Elliott Management materialize. The sale of the club is one of the “exit strategies” that the pair have been considering as of late.
Currently, a swarm of investment firms and private investors have expressed their interest in acquiring the club, including billionaire Sir Jim Ratcliffe, Britain’s richest man and founder of chemicals company INEOS. Joining him in the race was Sheikh Jassim Bin Hamad Al Thani, the chairman of the Qatar Islamic Bank. Both parties submitted formal takeover bids to acquire the club before last Friday night’s deadline of 5 p.m.
