- There is a concern Glazers are trying to create leverage for loan
- Elliott Management bid for ‘small amount of common equity’
Concerns are growing among some parties involved in the Manchester United sale that the Glazers might have “played them for months” – and instead of selling the club they would prefer to either push up the price to create leverage for a loan, or offload a minority stake to a hedge fund.
The latest plot twist came on a day where parties were told that the deadline for the second round of bidding would now be 4pm UK time on Friday – having been pushed back from Wednesday night – and US hedge fund Elliott Management confirmed that it had made an offer for United, but only for a “small amount of common equity”.
Written by Sean Ingle
This news first appeared on https://www.theguardian.com/football/2023/mar/23/manchester-united-bid-chaos-leads-to-growing-fears-glazers-may-not-sell under the title “Manchester United bid chaos leads to growing fears Glazers may not sell”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.