£290bn Ares trying to get involved with Man Utd bidding

Football
23 Feb 2023 • 2:51 PM MYT
Tribal Football
Tribal Football

Tribal Football covers news from the Premier League, LaLiga and Serie A

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Buyout financier Ares Management Corp are willing to provide funds to support a takeover of Manchester United.

Per Reuters, the US asset manager is looking to help finance a bid for a consortium.

The Red Devils are for sale, with British billionaire Jim Ratcliffe and the Qatari royal family bidding so far.

Ares, who have 289.3 billion in assets, would offer the funds as structured equity.

United fans may not be willing to support such a takeover, given it would pile debt onto the club or the person who buys the club.

The Red Devils supporters are hopeful that whoever takes over the club will entirely wipe the debt the Glazer family imposed with their leveraged buyout in 2005.