Saturday, February 24, 2024

Elliott sees Manchester United opportunity with financing offer

Photo: Nat Callaghan – Unsplash

Paul Singer’s Elliott Management has made a proposal to provide financing for the Manchester United takeover.

Details emerged on Saturday of a late submission by Elliott’s London office which could shake up the high-profile takeover battle.

The Glazer family’s sale of Manchester United is expected to be the most expensive sports club deal in history.

Sheikh Jassim bin Hamad al-Thani, the former prime minister of Qatar, and  Sir Jim Ratcliffe, the founder of Ineos, are the current frontrunners.

The Times, which first reported the development, said it could see Elliott provide debt funding, take a stake, or a combination of the two.

Elliott previously owned AC Milan, taking control in 2018 and selling to private equity last year. The firm declined to comment.