Manchester United’s owners the Glazers have reportedly received a new offer from Genevra Associates with the consortium looking to buy a minority stake in the club, Express reports.
The development comes as a blow to both Sir Jim Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani who until this point had been the only parties to have publicly registered their interest.
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.
A full sale was widely considered to be the most likely outcome. However, recent reports have suggested that the Glazers would be open to maintaining control by only selling a minority stake, something that looks like it is increasingly possible.
The soft deadline for bids passed two weeks ago with the Raine Group expected to go back to interested parties in the coming days. Luxembourg-based hedge fund Genevra Associates will be among this number according to AP News after putting themselves forward as potential candidates.