Report: Glazer Family Offered Financial Backing to Remain Manchester United Owners

After receiving multiple bids to sell the team, the Glazer family have an opportunity to remain as owners of Manchester United.

According to Mark Ogden of ESPN, American hedge fund Elliott Management has offered to provide financial backing to co-chairpeople Joel and Avram Glazer, which would allow them to retain ownership.

The news comes after Sheikh Jassim Bin Hamad Al Thani and British billionaire Sir Jim Ratcliffe have each placed bids on the club to become majority owners, via Rob Dawson of ESPN.

The latest proposal from Elliott Management's is for "possible financing, not a bid for the club," per Ogden.

The Glazers are refusing to sell lower than their valuation of £6 billion ($7.2 billion), per Tom Blow of Mirror, and the two main bids have fallen short of that mark.

This would set a world record for a sports franchise sale and be significantly higher than the £4.3 billion ($5.2 billion) Todd Boehly paid for Chelsea last year. According to Forbes, Manchester United was worth $4.6 billion (£3.8 billion) in 2022, 19th overall among sports franchises.

The Glazer family initially purchased Manchester United for £790 million in 2005, but there have been reports about a sale since an announcement in November.

"As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company," the club said in a statement.

Fans have been pushing for the unpopular owners to sell, including protests at Old Trafford.

New financial backing to keep the Glazers in charge likely wouldn't go over well with the supporters, although the investment could help the "modernisation of Old Trafford and the construction of a new training ground," as Ogden reported.