Red Knights lift 1.5bn for plan to buy Manchester United from Glazer family Manchester United

Kevin Eason, Sports News Correspondent, Helen Power, Business Correspondent & , : {}

Sixty super-rich investors have affianced up to 1.5 billion in their bid to seize carry out of Manchester United, The Times can reveal.

Although the Glazer family have insisted that the champions are not for sale, the leaders of the Red Knights, the organisation of heading City financiers at the at the back of of the move, will lay at their turn list currently to differentiate by a abounding list of field ready to at the back of a buyout.

We thought we had 40 investors well, it is already 60, one of the Knights pronounced last night.

It might meant that a bid for Britains greatest bar could shortly be a picturesque awaiting and that the Knights will be in a on all sides to have an suggest that cannot be refused.

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The strength of the bid will turn transparent currently when Jim ONeill, head of tellurian mercantile investigate at Goldman Sachs and a lifelong United supporter, and his organisation break down into parts the offers on the list at the City domicile of Freshfields Bruckhaus Deringer, the tip law firm.

With him will be Mark Rawlinson, a comparison partner at Freshfields, and Paul Marshall, the multimillionaire owner of the Marshall Wace sidestep fund.

The Red Knights hold that the bar is value about 1 billion, whilst the Glazers gratefulness that they demand does not proportion to an asking cost is we estimate 1.2 billion.

David Gill, the United arch executive, discharged the Red Knights out of palm this week, describing their takeover plan as unworkable.

But annoy at the large debts run up by the Glazers that has rippled by the Old Trafford stands is right away creation waves in boardrooms as it appears that heading investors as well as fans, who have been strike by big increases in sheet prices, are rallying at the at the back of of the Red Knights.

The Manchester United Supporters Trust (MUST), that is campaigning to reject the Glazers, pronounced last night that membership was on aim for 110,000 some-more than doubling in a day since the Red Knights plan emerged on Tuesday.

Duncan Drasdo, the arch senior manager of MUST, said: The expansion rate is positively phenomenal. MUST right away has some-more debate members than the central Manchester United membership scheme.

There is still a prolonged approach to go, though. According to Gill, the Glazers are austere they will not sell one of the majority cherished resources in universe sport, whilst ONeill, who has been since management by Goldman Sachs to aspire to the bid, and his organisation still have to infer that they have the money to wring carry out from Uniteds argumentative American owners though they might be means to do so by the finish of Friday.

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