The Glazer family are believed to be considering whether to sell or remain at Old Trafford. The club has been attracting interest from Qatari Sheikh Jassim and British billionaire Jim Ratcliffe, according to reports.
Bidders have now been asked to submit a third offer by April 30th. This is believed to be in response to the initial two bids which were deemed below Glazers' valuation for the club.
Neville: The Glazers are risking a "toxic" backlash from fans
Manchester United has been a source of revenue for the Glazers since they acquired the club in 2005 through a leveraged buyout. They accumulated hundreds of millions of pounds in debt and have shown little desire to restore Old Trafford's reputation.
But Manchester United's owners are striving to regain fans' trust by creating a fan advisory board and launching a fan share scheme, though this has yet to go live. Co-owner Joel Glazer has apologized for his family's behavior in order to win back fans' loyalty, promising that conversations about increased involvement in the club would move forward quickly.
Neville believes the Glazers face a "toxic" backlash from fans if they stay at the club. Therefore, new investors are needed to help finance the club, which is now worth around PS3billion and saddled with debt of PS455m.
Neville: The Glazers are trying to make sure all of their family walk away with PS1billion
Since 2005, The Glazers have been in control of Manchester United. Despite their debt problems over the years, United have enjoyed a successful football career under their guidance; winning five Premier League titles and three Champions League crowns.
United have endured financial difficulties despite these successes and require investment to restore Old Trafford and Carrington. According to MUST, United are unwilling to spend their own funds but would welcome new ownership.
Sheikh Jassim bin Hamad Al Thani and British billionaire Sir Jim Ratcliffe are in the final stages of their bids. They must view presentations from senior officials who will assess the club's operations, transfer strategy and scouting network.
The two primary bidders have each offered PS5bn, but neither has met the Glazers' reported asking price of PS6bn. It appears likely that they hope to achieve a higher value for their shares than what has been offered, though this appears unlikely at present.
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Neville: The Glazers are trying to drive up the price
Since 2005, the Glazer family have owned Old Trafford football club. However, they have not been popular among supporters who feel that they are failing to address the club's pressing problems.
Fans of Manchester United have recently launched a series of protests, believing that the Glazers are not investing enough in upgrading United's stadium or training ground, or failing to attract sponsors that could generate income for the club.
According to former Manchester United captain Gary Neville, the Glazers are using the takeover process as a means to drive up the price of their club. He suggests they could consider looking into minority investment options if their demands aren't met.
He speculates that the Glazers could be using their success at Chelsea to attract new investment. They have had great success in luring in a range of wealthy investors to Chelsea, and could be looking for a similar strategy with Manchester United.
Neville: The Glazers are trying to prevent a change of hands
Since 2005, The Glazer family has been at the helm of Manchester United. Unfortunately, they have become deeply unpopular with fans - many who boycott matches to protest against their owners' lack of investment, mounting debts and declining performance on the field.
For 17 years, the American family's reign at Manchester United has been marked by fan protests and incidents which ultimately forced the club into a takeover process. These include break-ins at Old Trafford and the postponement of a match against Liverpool in 2021.
Meanwhile, the Glazers have taken advantage of their leveraged buyout to reap huge dividends from the club. Furthermore, they employed incompetent managers like Woodward and have significantly increased the club's debt load.
However, the Glazers are optimistic that their current situation is about to improve. That is because the club's value has significantly increased since they took control.
That is why the American owners want to sell up - for a profit of billions. While this would be welcomed news for fans, it also poses some risk. Reports indicate several bidders have expressed an interest in purchasing the club, including Sheikh Jassim bin Hamad al Thani from Qatar and INEOS owner Jim Ratcliffe.
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