Avram Glazer’s presence at Wembley as Manchester United lifted the first trophy of the Erik ten Hag era has “fueled growing fears that the club will not sell out completely”. Sky Sports News it’s been said
Sources who have worked with the owners say the co-chief executive and his brother Joel are reluctant to give up United, in contrast to their brothers Kevin, Edward, Bryan and Darcie, a position hardened by “disappointing indicative offers”.
The Glazers hoped that The Raine Group would register more interest before its soft deadline for proposals of February 17. Sheikh Jassim Bin Hamad Al Thani and Sir Jim Ratcliffe are the only public bidders, and their offers fall short of the £6bn they are targeting.
Formal offers would have to increase significantly to tempt the Glazers into a full sale. His feeling is that United’s stature, its appeal around the world, especially in emerging markets, and the potential for future revenue growth have been underestimated. This even takes into account the club’s net debt of £656m, the transfer fees owed and the huge cost of upgrading the infrastructure.
Avram Glazer, who was in the company of Sir Alex Ferguson when a six-year wait for a trophy ended with a Carabao Cup final win over Newcastle, previously said the process for exploring strategic alternatives “is not necessarily a sell-out”.
The club’s statement on the matter ended with the kicker saying that “there can be no assurance that the review being carried out will result in any transaction involving the company.”
As recently as October, Ratcliffe revealed that the Glazers “don’t want to sell.”
Sources say the market has been slightly misreading after the interest scale when Chelsea was available to buy in contrasting circumstances.
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Manchester United manager Erik ten Hag says part-owner Avram Glazer’s attendance at Wembley demonstrated his commitment to the club.
This is also evident in John W. Henry’s announcement that Fenway Sports Group would retain control of Liverpool and only investment is currently being considered.
United fans made their stance clear even amid the joy of victory on Sunday. “We want Glazers gone” was the most consistent chant at Wembley.
Asked about Avram’s attendance at the final, Ten Hag said: “I was very happy for the club, as our owner. I wanted to be a part of it. He was in the dressing room, it was good that he was here. He showed his intentions.” .
Regarding what those intentions are, he added: “I don’t know, I’m not involved in that process, but since he is here, one feels that he is committed. What he wants, that’s not up to me (to say) I have to lead this team. Others at the club are involved in ownership decisions.”
Man Utd share price falls nearly 10 percent
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Kaveh Solhekol updates on the possible sale of Manchester United and if the Glazers are looking to stay with the club.
Sky Sports News chief reporter Kaveh Solhekol:
United’s share price fell nearly 10 percent on Monday amid concerns the Glazers won’t sell and a financial times report which has calculated the club is worth just £1.3bn.
Despite their success in the Carabao Cup final at Wembley on Sunday, United’s share price is currently down 9.6 percent at $20.62 and is down 17 percent in a week, erasing nearly $1 billion of the club’s value.
Meanwhile, as of Monday afternoon, bidders were still awaiting word from The Raine Group, which is organizing the potential sale on behalf of the Glazer family, about the next steps in the process.
Only Sheikh Jassim and Ratcliffe made indicative offers to buy United before the February 17 deadline.
If the Glazers want to sell, the offers of Sheikh Jassim and Ratcliffe would have access to detailed financial data and information so they can proceed to make formal offers for the club.
It is understood that Elliott Management, MSD Partners and Oaktree Capital are willing to provide financing to any bidder.
However, there are still concerns that the Glazers will not sell the club and are only looking for a minority investment.
Analysis: Is this really a good time to sell Man Utd?
Sky Sports News chief reporter Kaveh Solhekol:
“The Glazers have never said that they definitely want to sell the club, they have been very smart with what they have said.
“In November they said they were exploring alternative strategies that could potentially lead to a sale. But the argument could be made that Man Utd are playing so well at the moment, winning trophies again, is this a good time to sell?
“Maybe the smart thing to do is to keep the club, but sell a small stake and use the money to invest in redeveloping the stadium and training ground.”
Ten Hag on Glazer after Wembley win: ‘I wanted to be a part of it’
Ten Hag said after the Carabao Cup final that Avram Glazer’s attendance at Wembley demonstrated his commitment to the club.
Ten Hag said: “He (Avram Glazer) was very happy for the club, as our owner. He wanted to be a part of it.”
“He was in the locker room, well he was here, he showed his intentions.
“I don’t know (anything about a possible sale of the club), I’m not involved in that process, but the way he is here you feel he’s compromised. But the process, what he wants, that’s not for me.
“I run this team, others are involved in ownership decisions.”
‘Whiners to winners’ – Nev on Ten Hag’s Man Utd transformation
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Gary Neville has praised Erik ten Hag for the impact he has made at Manchester United since taking over.
Gary Neville hailed Manchester United’s transformation under Ten Hag after their victory in the Carabao Cup final.
Neville said: “This is about a man who has turned a team of whiners into winners – what a job Erik ten Hag has done.
“There are players who should not have played for Manchester United again, but are performing at a high level.
“They have spirit and fight. There’s a real chance to win trophies beyond this. They make good decisions in matches – their substitutes were instrumental in making sure they finished this game. It’s been a brilliant last few months.”