American hedge fund offer Glazers financial backing to remain Manchester United owners
Elliott Management, an American hedge fund, have offered the Glazers financial backing to remain the owners of Manchester United, according to ESPN. Their proposal is for “possible financing, not a bid for the club”.
The New York-based group are interested in investing in the Red Devils. As a result, the Glazer family now have the option to remain in the Old Trafford side’s hierarchy.
Earlier in the season, the Raine Group had been tasked with the responsibility of seeking ‘strategic alternatives’ for the Manchester-based club. The US bank was also responsible for the sale of Chelsea earlier last year.
At the moment, Jim Ratcliff, the owner of INEOS, and Sheikh Jassim Bin Hamad Al Thani, the chairman of the Qatar Islamic Bank, have submitted their bids to respectively be the majority or sole owners of United.
However, Joel and Avram Glazer would not mind keeping a hold of the Red Devils with the help of outside investment. But fans are not keen on the Americans running the Manchester-based club.
Over the years, under the Glazers, the Old Trafford side have deteriorated considerably. Since Sir Alex Ferguson’s departure, things have gone extremely downhill for us.
United have fallen off their pedestal in the recent past. Our management and recruitment strategy has left a lot to be desired. The Red Devils have not won the Champions League or the Premier League since Ferguson left.
Even established managers like Louis van Gaal and Jose Mourinho struggled to bring major success to the Old Trafford side. The Portuguese head coach was the last person in the dugout to win silverware at the Manchester-based club, lifting the Europa League in 2017.
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Now, it finally seems like Erik ten Hag is changing things at United and is steadying the ship. However, it remains to be seen whether the Dutch manager will have to deal with the Glazer family or a new owner in the coming future.