Home » Manchester United takeover: The Glazers receive new bid from Genevra Associates for minority stake

Manchester United takeover: The Glazers receive new bid from Genevra Associates for minority stake

by Raj Dholakia

The Glazers have reportedly received a new bid from Genevra Associates for a minority stake in Manchester United.

According to The Mirror, the Luxembourg-based hedge fund is offering an alternate solution for the current owners to remain in charge of the club.

We previously covered the report stating how Avram and Joel Glazer are reluctant to sell the club.

They value United at an unrealistic price of £6 billion, which is unlikely to be paid buy anyone.

Till now they have received two public bids of Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe.

One of Genevra’s partners Irfan Khan view United as a ‘solid investment.’

He stated: “The Covid-19 pandemic has had a devastating impact on all sports teams worldwide—with United no exception. However, we still believe it is a solid investment with fantastic upside potential and many millions of passionate fans globally.”

The firm is said to be keen on fan welfare.

Founding partner Shah Farsi said: “We understand that United fans have been rightfully frustrated over the last several years.”

“Our aim is to act as the force of reformation that harmonizes the interests of the owners and the fans and push for some much-needed transformation at the club.”

This fresh bid will only grow doubts in the heads of United fans who have been desperate to get rid of the Glazers.

It seems like Sheikh Jassim and Sir Jim will need to substantially increase their offer to force the current United owners into selling.

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