US-based hedge fund Elliott have joined Sheikh Jassim and Sir Jim Ratcliffe in the Manchester United takeover race, according to The Times.
Elliott, who are currently headed by Paul Singer, are said to manage assets of around £46 billion.
It is now reported that they made a last-gasp bid before Friday’s soft deadline, but the company has ruled themselves out of a complete takeover.
Instead, they plan to provide financing for a bid. This could also include assistance with debt management as well as part-ownership of the club.
The Raine group are currently in charge of the takeover process which could take weeks as they analyse the right proposals for the Glazer family to consider.
United need a complete takeover
Elliott Investment Management were the owners of AC Milan between 2018 and 2022. In their final season, the Rossoneri went on to win the league.
Despite this, there was criticism among Milan fans for the lack of high-profile signings. The club are currently struggling in their defence of the Scudetto.
In our opinion, Elliott won’t be a suitable fit for United. They could help the Glazers stay with part investment but this won’t be beneficial in the long run.
Hence, Sheikh Jassim or Sir Jim are the right candidates. The former could be the front-runner as he is prepared to pay the fee outright without any debt financing.
It is likely that there will be more proposals to buy United. Friday’s deadline was only a preliminary one and the Raine Group are obliged to entertain more bids.
