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Greedy Glazers to take Man Utd off the market after holding out for whopping £10billion
The sale of Manchester United is reportedly being shelved by the Glazers as they're said to want as much as £10billion to part ways with the Premier League club
The Glazers will take Manchester United off the market to hold out for a £10billion takeover, a report has claimed.
United's highly unpopular American owners announced they were welcoming offers for the Premier League club last November. Fans hoped the end of their now 18-year reign was in sight.
But the Daily Mail have reported they're U-turning on their sale stance and will instead hold out until they can get an offer nearer their asking price of £10bn.
It's added they'll wait until 2025 before testing the waters again in the hopes more suitors will be attracted and a bidding war will ensue. The bombshell news is said to come from a source with long-standing close ties to the Glazer family.
Only two serious contenders emerged to take over the Red Devils earlier this year - Qatari billionaire banker Sheikh Jassim and Britain's richest man Sir Jim Ratcliffe.
Both were put through multiple rounds of bidding and kept largely in the dark throughout the process, which was handled by global merchant bank the Raine Group.
It seemed last month that the Sheikh had come out on top with his £6bn offer to completely buy out the Glazers and clear United's debts, which are believed to be in the region of £535million.
But more weeks of radio silence followed to further frustrate fans. The latest update will come as a huge blow to the United faithful after countless protests against their current owners over the years, including a sit-in at Old Trafford following their 3-2 victory over Nottingham Forest last weekend.
The Glazers bought the then debt-free club for £790m in 2005 in a highly-leveraged deal. Since then they've pocketed an estimated £1.1billion.
They hope "financial and environmental" factors may attract more bidders in two years' time and reckon they could end up getting anywhere between £7bn and £10bn as a result of sitting tight.
Daily Star Sunday
The sale of Manchester United is reportedly being shelved by the Glazers as they're said to want as much as £10billion to part ways with the Premier League club
The Glazers will take Manchester United off the market to hold out for a £10billion takeover, a report has claimed.
United's highly unpopular American owners announced they were welcoming offers for the Premier League club last November. Fans hoped the end of their now 18-year reign was in sight.
But the Daily Mail have reported they're U-turning on their sale stance and will instead hold out until they can get an offer nearer their asking price of £10bn.
It's added they'll wait until 2025 before testing the waters again in the hopes more suitors will be attracted and a bidding war will ensue. The bombshell news is said to come from a source with long-standing close ties to the Glazer family.
Only two serious contenders emerged to take over the Red Devils earlier this year - Qatari billionaire banker Sheikh Jassim and Britain's richest man Sir Jim Ratcliffe.
Both were put through multiple rounds of bidding and kept largely in the dark throughout the process, which was handled by global merchant bank the Raine Group.
It seemed last month that the Sheikh had come out on top with his £6bn offer to completely buy out the Glazers and clear United's debts, which are believed to be in the region of £535million.
But more weeks of radio silence followed to further frustrate fans. The latest update will come as a huge blow to the United faithful after countless protests against their current owners over the years, including a sit-in at Old Trafford following their 3-2 victory over Nottingham Forest last weekend.
The Glazers bought the then debt-free club for £790m in 2005 in a highly-leveraged deal. Since then they've pocketed an estimated £1.1billion.
They hope "financial and environmental" factors may attract more bidders in two years' time and reckon they could end up getting anywhere between £7bn and £10bn as a result of sitting tight.
Daily Star Sunday