The Glazers are refusing to sell Manchester United for less than £6billion after receiving several bids for the Premier League club.
United's American owners have put their prized asset up for sale and received at least two bids ahead of Friday's 'soft' deadline. Those have come from Qatari banker Sheikh Jassim bin Hamad Al Thani and British billionaire Sir Jim Ratcliffe, who runs the INEOS group.
It is believed that American hedge fund giant Elliott Investment Management have also entered the race to take over United, while other bids are expected to have been made - notably from Saudi Arabia. Despite there being plenty of interest, there is a good chance the club will go unsold if their huge price tag is not met.
As first reported by The Sun, the Glazers will not accept fewer than £6bn for the Premier League giants. Potential suitors may find it difficult to pay that amount due to the club's recent valuation. According to Forbes, United were valued at £3.7bn in 2022.
Sheikh Jassim is thought to be the highest bidder at £4.5bn, with Ratcliffe offering £4bn. It is unclear how much Elliott Investment Management are willing to pay at this stage, although the American bankers manage assets worth a whopping £46bn.
Although most of the Glazer family want out, Joel and Avram are less keen on a sale. Out of all of the siblings, those two are the most involved in the day-to-day running of the club and may be unwilling to say goodbye after nearly two decades of ownership.
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The late Malcolm Glazer spent around £790m to take full contract of United between 2003 and 2005. Although a sale of £4bn would still equate to a substantial profit, the Glazers are in no rush to sell and could sit on their asset if their demands are not met.
The Glazers, who are unpopular with most United supporters, may sell just a fraction of their shares. They promised to "consider all strategic alternatives, including new investment into the club" when their intention to sell was announced last November.
"It’s still not clear if the Glazers actually want to sell and - if they do - it will only be for top dollar," a source told The Sun. "It’s possible they are keener on a partial sale rather than a full one at this stage - as that might value the club higher.
"What is obvious is that they want to maximise their profits by selling at their preferred price or not at all. The other possibility nobody is discounting is they will simply decide that none of the bids is anywhere near what they want and call it off, in the hope that the market conditions change in their favour in a year or so."
If his bid is successful, Sheikh Jassim has promised to "return the club to its former glories" - acknowledging their 10-year wait for a Premier League title - and wipe off the debts accrued. He has also described United as "the greatest football club in the world".
Ratcliffe, meanwhile, wants to put "the Manchester back into Manchester United" by having a club "anchored in its proud history and roots in the North-West of England".
