By lunchtime on Saturday, Manchester United fans knew of two takeover bids that had been lodged for their club.
Sir Jim Ratcliffe’s interest had been known for some time and welcomed, while the emergence of Qatari banker Sheik Jassim bin Hamad Al Thani’s proposals on Friday also drew a wave of positive reactions from some fans online.
But as Saturday afternoon edged into evening, a third potential party also became linked with the Reds. American hedge fund giant Elliott Investment Management have seemingly thrown their name into the hat - albeit not to offer a full-scale takeover but, instead, the financing for a bid.
READ MORE: American hedge fund giant 'enters' Manchester United takeover race
A clean cut-off is judged to be the most likely option if the Glazers do go through with a sale, although there are more hurdles to jump over just yet. The Manchester Evening News understands that offers at this stage are only indicative and that a further phase will allow bidders access to financial documents.
From there, interested parties will be asked to table their final proposals. Reports elsewhere claim that the Raine Group - the US bankers overseeing the takeover process - are only catering for the club’s B-shares.
These are said to outnumber A-shares, which count for a minority and are supposedly owned mainly by US investors.
Additionally, MEN Sport understands that Avram and Joel Glazer are exploring the possibility of buying out their four other siblings on the United board. The thought of a Glazer shut-in will make United fans shudder, but that is exactly what the rumoured Elliott Investment Management proposals leave open.
It should be noted that this reported US proposal could contain intentions of helping with debt management, but United fans have made clear that this is not what they want - they want them wiped.
But more importantly, the idea that the Glazers may remain present has curled the stomachs of supporters. A MEN survey in December found that 98 per cent of 1,200 fans want to see the current owners gone.
Elliott Investment Management’s outlined mooted interest endangers that from occurring - something fans are clearly fearful of. That said, the Glazers have never been too attentive to - or worse, bothered about - the feelings from the stands towards them.
Avram Glazer being the former vice-president of The Super League breakaway attempt clearly detailed which direction his intentions lie. In Sheik Jessim and Sir Jim, fans see a hopeful future after both laid out their ambitions, in varying degrees and scales.
Activist groups may be happier to see a Qatar-less ownership of United while some may feel uneasy watching a petrochemical magnate whose company’s revenue is €61bn take the helm amidst a domestic cost of living crisis.
But there is no doubt that these supposed US proposals will not be acceptable for supporters if the Glazers are the ones to take advantage of the financing offer. If Elliott Investment Management indeed does only want a bit-part role in any United takeover, they owe it to their potential fans to front it out and publicly confirm whether their offer of possible financing is open to the Glazers.
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