fbpx
Connect with us
https://propermanchester.com.temp.link/wp-content/uploads/2019/11/secret-suppers-advert.jpg

News

Here’s who could buy Manchester United as possibility of sale becomes more likely

Who would you like to see take over?

Avatar photo

Published

on

Abhijit Tembhekar / Flickr

As we reported earlier this week, Manchester United could finally be sold by the Glazers after 17 years.

Reports from Sky News revealed that the American owners were preparing to announce their intention to examine sources of outside investment, potentially including a full-blown auction.

The Glazers’ time in charge of the Red Devils has been dominated by fan protests and a decline in on-pitch performances, culminating in Cristiano Ronaldo’s recent interview in which he openly criticised the club and owners.

And now, Manchester United’s owners have confirmed that selling the club is a possibility, as they seek to increase both its sporting and commercial success.

According to a statement, the board of directors was ‘commencing a process to explore strategic alternatives for the club’, with this including the potential for ‘new investment into the club, a sale, or other transactions’.

But who might buy Manchester United?

Sir Jim Ratcliffe

Sir Jim is one of Britain’s richest men with a reported net worth of £10.9bn. On top of that he’s a boyhood Man United fan, and already owns French side Nice and Swiss side FC Lausanne-Sport.

After it was reported back in August the Glazers were considering selling a minority stake of Manchester United, he expressed interest in buying the club.

A group of former Manchester United players

This option would be popular with fans, as a group of ex-United favourites have experience owning a football club – including Gary Neville, Phil Neville, Paul Scholes, David Beckham, Nicky Butt, and Ryan Giggs, who are co-owners of Salford City.

The Red Knights

The Red Knights are a group of wealthy United supporters which count ex-Football League chairman Keith Harris, former Goldman Sachs chief economist Lord O’Neill, and hedge fund manager Sir Paul Marshall among their ranks.

A US private equity firm

Back in August, there were several reports that the New York-based private equity firm Apollo were in talks to buy a minority stake of the club.

A sovereign wealth fund

Unlike Abu Dhabi and Saudi Arabia, Dubai is yet to acquire a Premier League football club,  with the nation’s sovereign wealth fund reported as a potential bidder for United.

Pexels

The statement from the Glazers to the New York Stock Exchange confirmed earlier reports and revealed the club’s next steps.

The statement says: “Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club.

“The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.

“As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.

“This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.”

Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer added: “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. As we seek to continue building on the Club’s history of success, the Board has authorised a thorough evaluation of strategic alternatives.

“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximises the significant growth opportunities available to the Club today and in the future. Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”

The statement continued: “The Raine Group is acting as the Company’s exclusive financial advisor and Latham & Watkins LLP is legal counsel to the Company. Rothschild and Co. is acting as exclusive financial advisor to the Glazer family shareholders.

“There can be no assurance that the review being undertaken will result in any transaction involving the Company. Manchester United does not intend to make further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring a formal announcement.”

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Brand new Stockport interchange with rooftop garden now open

It opened this morning to welcome its first passengers

Avatar photo

Published

on

Bee Network / Facebook

The brand new Stockport transport interchange is now open for passengers.

Passengers can now use the interchange to catch buses to and from Stockport, and make use of the Bee Network.

The stops at Heaton Lane bus station are now closed, and passengers who previously caught a bus from here can now use the new interchange.

Bee Network / Facebook

The interchange is part of an exciting £1 billion investment into the town to make it an even better place in which to live, work, play and connect.

Key design aspects of the new development include a fully accessible under cover passenger concourse with a seating area, cycle storage facilities, travel information on screens and a travel shop.

Other facilities include fully accessible toilets with baby changing and Changing Places facilities.

Bee Network / Facebook

The modern interchange holds 18 bus stands, with capacity to accommodate 164 bus departures per hour to allow for future growth in bus services.

It also holds a unique and lush green space on the roof, which is a welcomed addition for everyone to enjoy .

The rooftop park has been delivered, in collaboration with the Environmental Agency and features a ‘blue-roof’ drainage system that will capture and store rainwater to allow control run-off into drainage outfall and watercourses mitigating any flood risk.

Bee Network / Facebook

Visitors can use the eye-catching spiral cycle and walking ramp, which connects to the new park as it spans across the Mersey Frontage, Trans Pennine Trail and the River Mersey.

Stair and lift links between the new park, interchange and Trans Pennine Trail to make it accessible for all.

And on top of all that, 196 new, high-quality residential new, high-quality residential apartments off Daw Ban (126 two-bedroom, 70 one-bedroom) tower above this stunning rooftop park and Stockport’s contemporary transport hub – with views spanning across the town.

Continue Reading

News

Body found near swing bridge in search for missing man from Eccles

Sad news

Avatar photo

Published

on

Greater Manchester Police & warhead / Flickr

A body has sadly been found near Barton Swing Bridge in the search for a man who went missing from Eccles last week, police say.

Andrew Heys, from Eccles, was last captured on Ring Cam walking along Barton Lane in the direction of Barton Road at 3.43am on Tuesday, March 12th.

Andrew had been described as ‘vulnerable’ and requiring regular medication.

Greater Manchester Police

The body was recovered from the Barton Bridge area of Salford, following a search of the surrounding areas on Saturday, March 16th.

Although a formal identification is yet to take place, Andrew’s family have been informed of the update and are currently being supported by specialist officers through this distressing time.

The death is not being treated as suspicious and a file is currently being prepared for the coroner.

Greater Manchester Police

Detective Inspector Mike Sharples, from GMP Salford, said: “Our thoughts and deepest condolences remain with Andrew’s family and friends at this time.

“Officers and specialist resources have been working around the clock and through the night to find Andrew since he was first reported missing to us, and I would like to thank members of the public who shared our appeals and assisted with our investigation.

“Our priority now is to make sure we can do everything possible to support the family and get the necessary answers for his loved ones, but I would ask that the family are given privacy during this time.”

Continue Reading

News

New shipping container street food village to open in Wigan

Great news for Wigan!

Avatar photo

Published

on

STACK & @stacknewcastle / Instagram

Container street food village brand STACK has confirmed its expansion with a brand new opening coming to Wigan.

The group will take over the former Debenhams unit in the town centre’s Grand Arcade.

The proposed development will see the site capable of holding up to 2,000 people and offering a wide range of music and entertainment as well as bars and street food vendors.

STACK

Plans will see a new frontage created on Concert Square, with STACK making a welcome addition to the leisure venues at the Grands Arcade – also home to games and activity centre Gamer X – and boosting Wigan’s night time economy.

Announcing the expansion, Neill Winch, STACK Managing Director, said: “We are incredibly excited to be bringing STACK to Wigan.

“The Grand Arcade is a stunning location with a rich history, and we believe that STACK will be a perfect fit for its vibrant atmosphere and growing community.

@stacknewcastle / Instagram

“We are committed to creating a space that not only entertains but also fosters a sense of belonging and community, and we can’t wait to welcome Wigan residents and visitors through our doors.”

STACK first opened in Newcastle in August 2018 and was a huge success attracting over 3 million visitors in its first four years. It currently also operates sites in Seaburn, Sunderland.

STACK is also set to open sites in Manchester, Lincoln, Northampton, Durham, Carlisle, and Bishop Auckland, with two more planned in Newcastle.

The opening date for STACK Wigan will be confirmed once planning permission is secured.

Continue Reading

Receive our latest news, events & unique stories

Privacy and data policy

We may earn a commission when you use one of our links to make a purchase

Copyright © 2024 Manchester's Finest Group