Manchester United’s US owners disagree over club’s valuation
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REVEALED: The Glazers are split on Manchester United’s valuation with some family members willing to consider sub-£5bn offers… as it emerges two Saudi Arabian groups are also set to enter the race to buy the red devils
Manchester United’s owners are split on the club’s valuation, according to sources close to the sale process.
The Glazers have appointed the Raine Group, US-based financial advisers, to find a buyer willing to pay between £6bn and £7bn.
Privately, however, at least one of the brothers has warned that the bids may be considerably lower.
The source revealed that some members of the family would be prepared to consider offers of less than £5bn. It is said that most of the family is still bullish on the price and hopes that various bidders will emerge to raise the price. It is also understood that the Glazers have not decided whether to sell the club outright or retain a substantial stake.
The Mail on Sunday has also learned of two private groups from Saudi Arabia that will take part in the tender.
Manchester United owners the Glazers (photos) are divided on how much value they should place on the club
They reportedly want £6bn for the club, although they have not made the price public as at least one brother in the family considers lowering his price.
Reports this week revealed that potential buyers were instructed to submit a single-paragraph offer, detailing only the amount and percentage of equity, on Friday, with proof of funds attached.
Of the groups that have so far expressed interest in gaining access to a limited set of documents, people close to the process believe only five are serious candidates to become Old Trafford’s new owners.
United’s bankers in New York will begin the exercise of narrowing down as many as 20 bids to as few as two or three preferred bidders.
Sir Jim Ratcliffe remains the only bidder to have publicly confirmed his interest and the British petrochemical billionaire has sought backing from major investment banks JP Morgan and Goldman Sachs. Other offers are expected to arrive from the United States, Qatar, China and Singapore.
A record number of football clubs have been secretly put up for sale.
M&A experts believe that “more than half of the 92 Premier League and EFL clubs are currently on the market.”
Gerald Krasner, consultant at Begbies Traynor, recently said: “The mounting financial problems of running a football club have seen many club owners lose steam to the point that, behind the scenes, there are more clubs for sale than we are.” seen for decades.
Sir Jim Ratcliffe is one of the bidders poised to rival bids from foreign investors for United
