Man Utd’s sales deadline has been pushed back to summer

Man Utd sales deadline pushed back to summer - Reuters/Phil Noble

Man Utd sales deadline pushed back to summer – Reuters/Phil Noble

The Glazer family are now aiming for a sale of Manchester United before the transfer window opens in June, should they decide to cash in on the club, Telegraph Sport understands.

The aim was to close a deal in the first quarter of the year or the end of April. But the prospect of that appears to be waning and a sale before the transfer window opens in June is now thought to be a more realistic time frame if the Glazers get an acceptable offer, sources close to the process said.

The Americans want to sell at least £5bn, but the offers from Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe are currently believed to fall short of that valuation.

Senior officials from US hedge fund Elliott Management were reported to have met in Manchester on Thursday with counterparts of Raine, the merchant bank leading the trial, and Glazers’ financial advisers, Rothschild.

Elliott representatives were at Old Trafford on Thursday night to watch United beat Real Betis 4-1 in the Europa League. The talks marked the start of the second phase of the sales process. Sheikh Jassim’s bid and Ratcliffe’s Ineos Group will attend detailed presentations at Old Trafford next week.

Sources with knowledge of the process claimed that at least four parties are interested in buying the club, although only Sheikh Jassim and Ratcliffe have made their bids public.

Insiders have told Telegraph Sport the Glazers, whose 18-year ownership of United has been marred by protests and fan anger, remain “determined sellers” at the right price. Bidders will have access to more detailed financial information and the chance to investigate Old Trafford and the club’s Carrington training base, both of which require significant investment. “They get a chance to look under the hood,” said a source.

Elliott does not intend to buy the club like Sheikh Jassim or Ratcliffe, but the US company is willing to help fund a takeover by an interested party. They previously owned AC Milan before selling the club to US investment group RedBird Capital last year. Other US hedge funds, including Ares, MSD Partners and Oaktree Capital, would also be willing to provide funding.

Meanwhile, TeamViewer is expected to remain United’s shirt sponsor next season, well-placed sources said. United announced in December that they were looking for a new shirt sponsor after agreeing to end their £235 million partnership with the German tech firm – which runs until 2026 – once a new partner is found.

But the timing of that announcement left United with only a slim chance of securing a new sponsor before the process of producing and sorting kits for next season kicks off and it’s not surprising among industry experts that TeamViewer will be next season will remain active. shirts.

Sources said United would not rush the process, not least with the club up for sale, and remain determined to find the right partner in time. Richard Arnold, United’s CEO, was at the World Economic Forum in Davos in January, where the club sparked interest from potential sponsors. The technology sector is considered an interesting market.

TeamViewer has come under immense pressure from investors to get out of their deal with United – which runs until 2026 – given the company’s deteriorating performance. If, as expected, TeamViewer remains on United’s shirts next season, the club is expected to have a new shirt sponsor for the 2024/25 season.

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