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Manchester United owners Glazers have been offered the opportunity to join as the club’s manager by US hedge fund Elliott Management.
Yesterday, The Peoples Person reported that Elliott has communicated his intention to fund a consortium or individual seeking to complete the acquisition of the club.
In addition to this, Elliott is open to debt funding, equity stakes in the club, or a combination of both.
Elliot was adamant that he would not participate in the complete takeover of Red Devil.
The former owner of Italian club AC Milan, which manages a $56 billion (£46 billion) fortune, has submitted a proposal ahead of the soft deadline for the first round of Glaser’s bid.
According to ESPN’s Mark Ogden, Elliott offered Glazers a chance to maintain control at Old Trafford.
“The Glazer family have been offered financial support by American hedge fund Elliott Management to remain owners of Manchester United,” Ogden said in a statement, adding that the New York-based group had decided to invest in the Premier League club. After expressing interest, a source told ESPN.”
“Elliott’s emergence in United’s sale process prompted club co-chairmen Joel and Avram Glaser to maintain interest in the club despite deep-seated opposition to the American family that also owns the NFL franchise Tampa Bay. Opens the possibility to .United Buccaneers fan base.
“A source involved in the bidding process told ESPN that Elliott Management’s proposal is about ‘a possible funding, not a bid for the club.’
A few days ago, it was detailed that there was unrest between the Glazer brothers.
Most of the brothers are bent on a full sale and exiting the English football scene, but Joel and Avram Glaser are reluctant to go and would like to stay as owners.
Joel and Avram are said to be exploring alternatives that would allow them to continue at the helm of England’s biggest club.
Elliott Management offers them the perfect opportunity to do just that.
As an online poll conducted by The Athletic revealed, for many United fans the prospect of the Glazers staying in any form would be dire.
Opinions differ as to who the best buyers are, but the common consensus within the fanbase is that the Glazers must leave.