Manchester United

Manchester United 'expecting takeover offers imminently'

By Ben SullyPublished: 13 January 2023 5:02 PM

Manchester United are reportedly expecting to receive offers for a potential takeover of the club or a minority investment by mid-February.

Manchester United are reportedly expected to receive formal takeover offers by mid-February.

The Glazer family, who have owned United for 18 years, released a statement in November stating that they are open to selling the club in the near future.

While a full sale is believed to be under consideration, Avram Glazer recently stated that they were also looking at the option of bringing in investment from outside the club.

Speaking to The Athletic, he said: "It's not necessarily a sale, it's a process and we're going forward with the process, so we'll see what happens.

"I'm here to really watch the World Cup but I appreciate your interest. That's the update, it's the process and the process is proceeding."

Manchester United manager Ole Gunnar Solskjaer and co-owners Joel Glazer and Avram Glazer in April 2019 © Reuters

Avram Glazer had been at the 2022 World Cup to reportedly hold discussions with potential investors from Qatar and Saudi Arabia.

According to The Telegraph, United are set to receive offers from the Middle East, Asia and the United States, with the club inviting prospective buyers to submit formal bids by mid-February.

The report claims that those interested in buying the 20-time English champions will go public with their intention to purchase the club in the near future.

There is an expectation that interested parties will be invited to make formal offers for total buyouts as well as minority stakes.

British Billionaire Jim Ratcliffe, who is the chairman and CEO of multinational chemicals company INEOS, is believed to be monitoring the situation.

Jim Ratcliffe pictured in September 2021 © Reuters

Ratcliffe expressed an interest to buy Chelsea last summer, before the Blues were eventually sold to Todd Boehly's consortium.

Although there is a belief that Ratcliffe will eventually make an offer for his boyhood club Manchester United, he is yet to enter formal discussions over a takeover bid.

Although an exact price has not been made public, the Glazers are reportedly looking to sell the Red Devils for a price between £6bn and £8bn.

Investment bank the Raine Group are United's exclusive financial advisor for a potential sale or investment from outside the club, with the Glazers keen to complete a deal by the end of April at the latest.

While discussions take place off the pitch, United boss Erik ten Hag is currently preparing his side for Saturday's Manchester derby against local rivals Manchester City at Old Trafford.