However, the Manchester United Supporters Trust has expressed concerns regarding the debt levels and human rights records of any potential new owners.
Sir Jim Ratcliffe has bid for 69% of Manchester United after offers were submitted ahead of the Friday deadline. If Sir Jim Ratcliffe were to buy the club, the Glazers would not be involved in the ownership as they currently own exactly 69% of Manchester United.
Ratcliffe may also seek to buy the rest of the shares, which are traded on the New York Stock Exchange, in future. Ratcliffe is a Manchester United fan but also tried to buy Chelsea last summer.
Ratcliffe owns the cycling team INEOS Grenadiers, Ligue 1 side Nice, FC Lausanne-Sport, a Swiss Super League club, and owns a third of the Mercedes Formula 1 team which has convinced some Man U fans to support his takeover.
Meanwhile, Qatari Sheikh Hamad bin Jassim bin Jaber Al Thani has been to Old Trafford and other United games. He is confident that their bid is strong and convincing, and they want to make it clear that their bid is not connected to Qatar Sports Investments (QSI) or the Qatar Investment Authority (QIA).
If the Qatari bid for Manchester United is successful, it would eliminate all of the club’s debts. Currently, the club’s debts amount to £515m net, a result of the Glazer family’s leveraged buyout in 2005 when they purchased the club for £790m using borrowed funds.
Although bids have been submitted to purchase Manchester United, the Glazers may still choose to remain as owners due to a new offer for investment rather than a takeover. Information has emerged regarding interest from Elliott Investment Management, who are reportedly only interested in making an investment and not putting together their own bid.
The proposal is not a bid for Manchester United but is a proposal for possible financing. The proposal could involve Elliott taking a stake in United or providing debt financing or a mix of both.
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The Glazer family is currently exploring options for a full or partial sale of Manchester United, or a partnership with third parties.
However, there are MUST notes of concerns over debt levels and human rights records
As bids for Manchester United are being considered, the Manchester United Supporters Trust (MUST) has issued a statement reiterating their previously stated requirements for any potential new owners.
There are also questions about whether any bids will also be based on high levels of debt. We also note the importance that any owner respects the rights of all people, particularly women and the LGBTQ+ community. Concerns have been raised by other fans groups which we fully support.
MUST
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