Manchester United’s worth dropped once it was revealed that the infamous Glazer family would continue their ownership the team.
Sheikh Jassim bin Hamad Al Thani is reportedly remaining confident he will succeed with his bid as the battle for Manchester United continues to simmer, reports said.
It comes as reports said US firm Carlyle Group Inc is now in talks for a significant investment in Manchester United as the auction of the Premier League club enters its final stages.
However, Sky News reported that the Glazer family is confident that an outside investment could allow them to remain owners of the club and prevent its sale.
As of now, only the Qatari royal and Sir Jim Ratcliffe are still interested in fully purchasing the club, and both are thought to have been given until 28 April to make a third offer for the Red Devils.
As per The Guardian’s report the Qatari banker continues to be “confident” that his offer will persuade the Glazers to sell, and he intends to purchase all of the shares,
Manchester United’s worth dropped once it was revealed that the contentious Glazer family would continue to own the team.
After ESPN reported that owners and co-chairmen Joel and Avram Glazer are optimistic they can get funding to allow them to retain ownership of the club, the company’s stock price dropped 13%.
According to the source mentioned in the report, the two are in favour of a fresh investment that would keep them in charge while siblings and other directors sold their shares. They believe the investment will allow them to double the club’s value.
On Monday morning in New York, shares briefly fell to $18.91 per share, the lowest level since November. Manchester United is a publicly traded corporation, and some of its shares are traded on the NYSE.
Numerous supporters dislike the Glazers, who have been in ownership of the team since 2005. The unpopularity is often linked to below-par performances in the Premier League and the lack of investment in Old Trafford.
Separately, The Independent said that Carlyle Group Inc are in talks to make a partial investment in Manchester United.
Sixth Street and Ares are also interested in purchasing a share in the club, but Carlyle and Elliott Management are viewed as the favourites to do so. According to The Independent, the Glazers are taking the idea of minority investment more seriously.