Sheikh Jassim bin Hamad al-Thani remains confident he will succeed with his bid to buy Manchester United after it emerged that the Carlyle Group, a US investment firm, wants a minority stake and the Glazers have instructed Raine, the bank handling any sale, to examine the offer.
It is thought that another US fund, Ares Management, is interested in a similar arrangement. Yet despite Carlyle, Ares and Elliott Investment Management hoping to buy part of United from one or more of the six Glazer siblings, Sheikh Jassim, the Qatari banker who wants to acquire all of United via his Nine Two Foundation, believes his offer will be accepted.
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He has stated his buyout would be debt free. Sir Jim Ratcliffe, one of Britain’s richest people, wants to buy a controlling interest but has said he would borrow as part of any deal.
Of the siblings Joel Glazer is the largest shareholder, with 19.11%. Darcie, his sister, holds 18.15%, Bryan 17.23%, Avram 14.38%, Kevin 13.77% and Edward 12.99%. It is thought Joel and Avram are minded to retain their stakes if suitable finance can be found. So the option of a deal with Carlyle, Ares, Elliott or a similar investor is being explored.
