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Home Primo Piano

Elliott Fund offers intriguing proposal in the race for Manchester United’s potential sale

Wajih Mzoughi by Wajih Mzoughi
19 February 2023
in Primo Piano, News
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Elliott's Paul Singer

Paul Singer, president of Elliott Management Corp., speaks during the WSJDLive Global Technology Conference in Laguna Beach, California, U.S., on Tuesday, Oct. 25, 2016. The conference brings together an unmatched group of top CEOs, founders, pioneers, investors and luminaries to explore tech opportunities emerging around the world. Photographer: Patrick T. Fallon/Bloomberg via Getty Images

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The potential sale of Manchester United has taken an intriguing turn with the entry of the Elliott Fund. According to The Times, the fund led by Paul Singer is not in the market to acquire the Premier League giants directly but has expressed its interest in providing financing to any potential buyer.

The proposal from the former owner of AC Milan, who recently sold the Rossoneri to RedBird Capital Partners led by Gerald "Gerry" Cardinale, echoes the one made to Yonghong Li in the past to buy Milan from Silvio Berlusconi. The fund has proposed to finance the acquisition of Manchester United.

While Elliott's offer is intriguing, the Glazer family, who bought Manchester United in 2005, have other options to consider. The Raine Group, the US bank handling the negotiations, has received offers from other potential buyers, including Qatari Sheikh Jassim bin Hamad al-Thani, president of Qatar QIB bank, and Sir Jim Ratcliffe, the billionaire industrialist behind INEOS, who currently owns the French club Nice and Swiss club Lausanne.

Elliott owner Paul Singer
CNBC EVENTS -- Pictured: Paul Singer, Founder and President, Elliott Management, at the 2015 Delivering Alpha Conference on July 15, 2015 -- (Photo by: Adam Jeffery/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images)
Tags: ElliottMachester United
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Wajih Mzoughi

Wajih Mzoughi

A writer from Tunisia - Passionate about football: Serie A and AC Milan in particular. For business inquiries or any requests: Wajihmzoughi1996@gmail.com

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