The Glazer brothers, Joel and Avram, are reportedly increasingly confident of securing outside investment that will enable them to remain as owners of Manchester United. The club is currently in the middle of a bidding process, with third and final proposals needing to be submitted before April 28th. Fans had been hopeful that the Glazers would be bought out, but suitors have been left ‘baffled’ by a lack of communication from both the family and Raine Group, who are marketing the sale. Raine have also been entertaining offers of minority investment or part-ownership, with US hedge fund Elliott Management offering to buy a stake and work alongside the Glazers. Private equity giants Carlyle Group have also thrown their hat in the ring and two members of the Glazer family – Joel and Avram – are long thought to favour going down a route that sees them remain in control alongside a new minority investor.
The Glazers are reportedly convinced that Manchester United have enormous room for growth which could make the club worth in excess of £10billion in just a few years’ time. This belief has been reinforced by the sale of NFL team, Washington Commanders, for $6billion (£4.8bn), which set a new record for a sporting franchise takeover. However, any growth they are hoping to see will require significant investment on a new stadium or upgrades to Old Trafford, as well as continued backing in the transfer market. The Glazers hope that the interest of four significant investment funds – Elliott, Carlyle, Ares Management Corporation and Sixth Street Partners – will provide the solution while also allowing Joel and Avram to remain as owners. This move has been met with strong opposition from United fans, with club legend Gary Neville believing things will turn ‘toxic’ if they do not walk away completely.