American hedge fund offer 'financial backing' for Man Utd takeover, it could be good news for a brand new owner

American hedge fund company Elliott have reportedly made a last-minute attempt to buy Manchester United in a remarkable swoop.

The Glazer family initially set a soft deadline of 10pm on Saturday evening to decide the future of the club after it announced they were open to offers in November.

Both Sir Jim Ratcliffe and Qatari banker Sheikh Jassim bin Hamad al-Thani offered proposals on Friday.

But in a fascinating turn of events, The Times report that billionaire hedge fund company Elliott, are prepared to make a late bid of their own.

Elliot are the former owners of AC Milan - parting ways with the Serie A club for £1billion last August. Meanwhile, the company is thought to be worth an eye-watering £46billion.

The investors, run by Paul Singer, have ruled out a full takeover from the Glazers, but are willing to piggyback another potential buyer.

Elliott to 'provide financial backing' for new owner

Ratcliffe is said to need to borrow money in order to purchase United, leaving fans hesitant about plunging the club into further debt.

However, Elliott may have provided a possible alternative, with the company able to provide the finances to help support the English businessman.

Whilst the potential invite could extend to several others, with the company able to offer a boost for a new owner lacking financial power.

Sheikh Jassim won over some supporters after revealing his plans to support the community, whilst attesting to his "life-long support" for the club.

A statement confirming his proposal read: "The bid will be completely debt free via Sheikh Jassim's Nine Two Foundation, which will look to invest in the football teams, the training centre, the stadium and wider infrastructure, the fan experience and the communities the Club supports.

"The vision of the bid is for Manchester United Football Club to be renowned for footballing excellence, and regarded as the greatest football club in the world. More details of the bid will be released, when appropriate, if and when the bid process develops."

Topics: Manchester United, Football, Premier League, Qatar

Joe Adams

Joe is a Journalist for SPORTbible with a primary focus on football. He has previously covered a number of other sports including boxing, rugby and F1. Wishes he was born left-footed.

@joeadamsjourno