Featured Image Credit: Alamy
Topics: Manchester United, Premier League
Ryan Smart
Manchester United are understood to be 'angered' amid news surrounding the entry of a hedge fund into the club's bidding process, journalist Ben Jacobs has claimed.
The current owners of the club, the Glazer family, are exploring 'strategic alternatives' for United, with two public bidders having been confirmed prior to the soft deadline set for offers.
A third offer came in courtesy of US hedge fund Elliott, the former owners of AC Milan, who are said to have proposed financing for a takeover bid.
Since then, there have been numerous reports on the state of play regarding a sale, with one increasingly feasible outcome said to be that the Glazers could stay in control of the club, as per Sky Sports.
Advert
Co-owner Avram Glazer appeared at Wembley to watch United win the Carabao Cup final by beating Newcastle 2-0.
Then, on Wednesday, it was reported by the Daily Mirror that Luxembourg-based hedge fund Genevra Capital had launched an offer for a minority stake in United, and have said they are willing to work with the Glazers.
Speaking in a press release, Genevra Capital founding partner Shah Farsi said: "We understand that United fans have been rightfully frustrated over the last several years.
"Our aim is to act as the force of reformation that harmonizes the interests of the owners and the fans and push for some much-needed transformation of the club.
"We have received a number of solid commitments over the recent weeks and we hope to transform that into a unique win-win opportunity for those involved."
Meanwhile, Jacobs has added in a Twitter thread that the hedge fund want public shareholders to own at least 50 per cent of the club, and that wanting to work with the Glazers has not gone down well.
Jacobs also claims that Genevra have 'angered' United due to PR reasons following their statement, and that it is a route that the Glazer family will likely not go down.
He tweeted: "They [Genevra] say they want public shareholders to hold at least a 50 per cent stake in MUFC.
"Glazers highly unlikely to go for this. Also understand Genevra has angered MUFC with what's considered PR.
"There is a real irony with this type of bid. Genevra speak of wanting to work with the Glazers before adding fans have been 'rightfully frustrated over the last several years...'. This hasn't gone down well."