Football

Man Utd show signs of selling club under Glazers valuation after ‘data room’ development

Manchester United appear to be getting closer to be sold after the club’s ‘data room’ was opened to investors. Those interested in a takeover bid can now view the club’s confidential financial information, a development that could mean the Glazers do not receive their £5billion valuation for their asset

United were first put on the market in November after the Glazer family announced that it was ‘commencing a process to explore strategic alternatives’ for the club. Options ranging from bringing ‘new investment into the club, a sale, or other transactions involving the company’ were to be considered with interested parties invited to come forward. However, it is thought that a full sale is the most likely outcome.

This week, British billionaire Sir Jim Ratcliffebecame the first party to publically confirm his interest via a statement released through his company Ineos. US investor Sixth Street is also said to be interested in a stake according to the Telegraph while bids from the Middle East and Asia are also expected.

Now, the BBC reports that the United’s ‘data room’ has been open in a major development for the sale. It allows organisations to access United’s company information, including documents, so they know what shape it is in before they decide whether to make a bid. No deposit for the information is required but all parties must sign a non disclosure agreement to gain access.

The post Man Utd show signs of selling club under Glazers valuation after ‘data room’ development appeared first on zululegit.

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