Man Utd takeover latest: Deadline emerges as Glazer family holds talks with buyers in Qatar

Avram Glazer Manchester United

Manchester United owner Avram Glazer has reportedly held talks with prospective buyers while in Qatar for the World Cup.

The Glazer family announced last month that they are seeking a sale of the Old Trafford club they have owned since 2005. Indeed, they have hired the Raine Group to act as United’s exclusive financial advisor and try to find interested parties.

While at the World Cup in Doha, Glazer used the opportunity to meet with potential investors, according to The Athletic.

The report does not state who Glazer has spoken to since being in Qatar, while United and the Raine Group have refused to comment.

He was present at France’s 2-0 semi-final win over Morocco, where he gave some brief comments about United.

Glazer told The Athletic: “It’s not necessarily a sale, it’s a process and we’re going forward with the process, so we’ll see what happens.

“That’s the update, it’s the process and the process is proceeding.”

The Red Devils have previously held discussions with Saudi Arabia regarding investment in the club, as well as talks with Dubai-based investment funds.

The statement back in November revealed United were beginning a “process to explore strategic alternatives for the club”, which could mean “new investment into the club, a sale, or other transactions”.

Deadline set for United takeover

Raine Group is aiming to complete the sale by the end of the first quarter of 2023. Indeed, they are hoping to sell for a price of between £6bn and £7bn, having moved down from their initial asking price.

The Glazers followed Fenway Sports Group’s decision to seek a sale of Liverpool. That came after Chelsea were sold for £2.5bn to a consortium fronted by Todd Boehly back in May.

The Glazers have been in charge at Old Trafford for 17 years after completing a leveraged buyout of the club for £790m in May 2005.

However, supporters have continually protested against their ownership, with their use of loans which has loaded the club with debt worth around £500m and cost over £1bn to service proving hugely unpopular.

The family also own NFL side Tampa Bay Buccaneers, who won the Super Bowl under Tom Brady in 2020, while Avram Glazer also bought a cricket franchise in the United Arab Emirates’ T20 cricket league.

From the playing side, Red Devils boss Erik ten Hag hopes any sale goes through quickly.

He said: “There will be more investment possible which is good.

“We spoke about the culture we want, we spoke about objectives, goals and the culture and he confirmed it won’t change. It will be even better because more money will become available for this project.”

United will be back in domestic action on December 21 when they host Burnley in the Carabao Cup.

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