According to The Athletic, Manchester United have instructed The Raine Group to find the best deal for the Glazers as they prepare to part ways with the club.
The Glazer family recently confirmed that they are exploring strategic alternatives for the Red Devils which includes partial investment as well as a potential sale.
There has since been plenty of speculation over the change of ownership and The Athletic now reveal that a takeover could happen in the first quarter of 2023.
The Raine Group, an investment banking firm, are acting as United’s financial advisors and they have been told to present the best offers on the negotiation table.
Raine anticipate a full sale to go through at a price between £6 billion and £7 billion.
As things stand, Amazon are mooted as possible candidates to buy the club while Mancunian billionaire Sir Jim Ratcliffe could make a formal bid with a consortium.
Indian billionaire Mukesh Ambani, however, does not appear in the race. The business magnate would prefer to buy Arsenal if his company were to enter the football world.
United’s sale likely to materialise before end of season
Glazers have received plenty of criticism from the fans over the years. Most of it is justified, considering their limited investment into the squad as well as the club’s facilities.
United are currently one of the top-three richest clubs in world football, but last summer was the first time in their history that they had spent over £200m in a single transfer window.
For a club of United’s calibre, they should be spending significant fees every year but instead, the Glazers have been taking money out regularly in the form of half-yearly dividends.
The owners recently decided against taking any dividend payment for January, but this is probably as a good gesture as they prepare to end their long-term association with United.
The club’s faithful will be hoping that the change of ownership happens quickly, but United need the right personnel. Raine are best suited for the sale after their recent work with Chelsea.
The banking firm picked Clearlake Capital to take control of the Blues. While their on-field displays have been poor, the club have been active in transfers and infrastructure development.
With Old Trafford and training facilities requiring a fresh makeover, United must have an owner/consortium prepared to spend significant sums of money up front.
Stats from Transfermarkt.com
