Man Utd news: Avram Glazer is against a full takeover (Image: GETTY)
Manchester United co-owner Avram Glazer is against the idea of a full sale of the club, according to reports. The stance throws the takeover attempts from Sheikh Jassim bin Hamad al-Thani and Jim Ratcliffe into major doubt.
Ratcliffe submitted a second official offer for United earlier this week. Meanwhile, the second Qatari-backed bid finally came overnight Friday into Saturday after an extension was granted following Wednesday's deadline.
Both bids are said to be in the region of £5billion. There is also a third full takeover bid from Finnish billionaire Thomas Zilliacus, though that comes in at under £4bn.
It is widely reported that the Glazers would want nearer to £6bn for a full sale of United. However, the Mail claims one-half of the brothers' partnership is not keen on cutting ties completely with the Old Trafford club.
Man Utd bid deadline extended as Jim Ratcliffe and Sheikh Jassim prepare offers
The report says Avram Glazer does not want a full sale. It is claimed the 62-year-old only brought in New York investment banking firm the Raine Group to discover how much they could receive in a sale down the line.
Joel Glazer, 55, is said to be more open to a full sale than his brother. However, the price must be at a huge premium, likely close to £6bn.
The four other Glazer siblings are open to a full sale for a big profit but not necessarily as much as £6bn. The scenario shows a split amongst the family over what the next step will be.
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The stance from the elder of the two co-owners puts the approaches from Ratcliffe and Sheikh Jassim in doubt, while Zilliacus' bid looks even more unlikely than it already did. However, it could open up an opportunity for a part sale of United.
Raine have received at least one offer for a minority stake in United. Elliott Investment Management are a firm based in Florida and have made an approach to invest in the Red Devils.
The Glazers would still have control but there would be extra funds available. United need to upgrade Old Trafford as well as the club's Carrington training ground.
United supporters would largely be against a 'funding bid' from a company such as EIM. They have protested against the Glazers' ownership for the best part of two decades.
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