American hedge fund Elliott makes eleventh-hour offer for Manchester United

A last-gasp proposal has been made as US hedge fund Elliott launch late bid to buy Manchester United. They join Qatari banking chief Sheikh Jassim Bin Hamad Al Thani and UK businessman Sir Jim Ratcliffe.

According to The Times, American hedge fund giant Elliott has joined the £5 billion race for Manchester United in an eleventh-hour swoop.

The former owner of AC Milan, which holds $56 billion (£46bn) in assets, is thought to have lodged a late bid just before Friday’s soft deadline.

The investment company is run by Paul Singer and the report claims they have ruled themselves out of a full takeover of the club.

Their proposal will be looked at by The Raine Group before any decisions are made, which also applies to the Qatari banker and Sir Jim Ratcliffe.

It’s clear that the Glazers have a lot of interest in a takeover of Manchester United and it feels like their days at Old Trafford are numbered.

Update: Elliott has ruled itself out of a full takeover of United – but has offered to provide the financing for a bid.

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