American hedge fund Elliott ‘made a last-minute bid for Manchester United before Friday’s deadline’ but the firm – who used to own AC Milan and manages £46bn in assets – ‘doesn’t want a full-scale takeover of the Red Devils’
- Man United’s takeover race has taken a twist with Elliott said to have made a bid
- The US-based hedge fund are said to have loged a last minute offer to United
- But the former AC Milan owners are only interested in financing a bid at this time
American hedge fund Elliott reportedly made a last minute bid for Manchester United before Friday’s deadline entry into the £5billion bidding battle for Manchester United.
However, the group – which previously owned Serie A side AC Milan and manages £46billion in assets, is not said to be looking at a full-scale takeover and instead wants to help provide the financing for a bid, according to the Times.
The race for the keys to Old Trafford is hotting up with a Qatari bid – led by Sheikh Jassim Bin Hamad Al Thani – already being submitted and Sir Jim Ratcliffe, the UK’s richest man, also puttin in an offer.
But Elliot – run by Paul Singer – are now thought to be an outside contender to become involved with a bid, with the firm possibly taking a stake in the club or providing debt funding, the report adds.
A small team in Elliot’s London office have been putting the bid together – and their potential involvement could provide assistance to any bidders who are interested in making a bid for United but do not have the firepower to see off competitors.
More to follow…
The American hedge fund Elliott made a late entry into the bidding battle for Man United