The gingers hiring a bank to monitor things?
Second bidder eyeing Manchester United
Manchester United is being eyed up by a second potential acquirer, competing with the Red Knights consortium.
By Lawrie Holmes
Published: 9:47PM GMT 13 Mar 2010
Manchester United players celebrate after winning the Premiership last season Photo: AP Photo/Jon Super
The rival party was thought to have been preparing a bid worth about £1.2bn, including debt, before the Red Knights consortium revealed its interest in approaching the Glazer family which owns the club.
Sources close to the situation said the emergence of a second party, thought to be a single entity rather than a consortium, has raised the Glazers' valuation of the club to at least £1.6bn.
A person close to the interested party said: "I spoke to the Glazers - they will not sell." The Glazers are still thought to be keen to hire a bank to monitor interest in the club, although they have said they are not interested in selling. A spokesman for the Glazers said: "We are not in play. The Glazer family are very much in it for the long term."
The Red Knights, which confirmed it was being advised by Nomura last week, is not thought to be aware of the rival party.
A spokesman for the Red Knights said Jim O'Neill, its ringleader and chief economist of Goldman Sachs, had been given permission by the investment bank to work on the approach – even though Goldmans recently advised on a £500m bond issue. The spokesman said: "We are not trying to buy the club to change the way it is run. We don't like the way it has £750m of debt, as well as paying £81m of interest a year."
Oh no United are definitely not for sale. First they'd turned down an anonymous separate bid of over £1bn and wanted £1.2bn, now they've apparently turned down another anonymous approach talking about £1.2bn, they want £1.6bn. There's a price war happening methinks. Trouble is them @#%&!s are in the driver's seat at the moment.