Home » Ares Management turn attention from Man United to Chelsea as Glazer takeover continues to stall

Ares Management turn attention from Man United to Chelsea as Glazer takeover continues to stall

by Red Billy

The Glazer family’s long game in their attempts to sell or refinance Manchester United could be starting to backfire.

The family took over United 18 years ago when the late Malcolm borrowed massively against the club to perform a hostile takeover, plunging the sporting institution into debt in the process.

Since then, the family have not repaid a penny of the debt and have consistently neglected the stadium and training facilities and paid themselves massive dividends each year.

Protests against their ownership looked to have finally borne fruit when it was announced in November that the Glazer siblings were looking for “strategic alternatives”, which was taken to mean either getting in minority partners, refinancing loans or selling up completely.

But despite receiving offers of around $6 billion for the club – more than double its book value – the family have not acted and everyone has been left wondering what happens next.

Everyone, it seems, apart from one potential investor, Ares Management, who according to The Telegraph, have given up the chase and turned their attentions elsewhere.

“Ares Management is believed to be in talks about offering investment at Stamford Bridge, with the Todd Boehly-led consortium open to receiving a capital injection,” the outlet reports.

“It emerged in March that Ares were among a clutch of US firms offering funding for United as the Glazers explored a still unresolved sale of the club.

“On Friday, a report … detailed how the firm is discussing making an offer for a deal at Stamford Bridge.

“Ares and Chelsea declined to comment.”

Protestors and the swathes of fans who oppose Glazer ownership will be exhaling sighs of relief that one of the potential options to help the tycoon family stay in power looks to have evaporated.

Without funding by a company like Ares, with their credit lines exhausted, the Glazers may have no choice left other than to sell.

That will be music to the ears of just about everyone – except United’s competitors.

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