A THIRD bid for Manchester United has emerged as an American hedge fund entered the race for the Red Devils.
The club has been put up for sale as the Glazer family look to move on after nearly two decades of owning one of football’s biggest sides.
GettyRepresentatives from the hedge fund were present for United’s game v Real Betis last night[/caption]
Elliott Management has made it through to the second stage of the sales process, according to Sky Sports News.
The American hedge fund have submitted an offer which is open to all parties, including the two frontrunners of British billionaire Sir Jim Ratcliffe and the Qatar group.
But they are reported to not want to buy United outright and instead offer financial backing to any interested parties.
Representatives from Elliott were at Old Trafford last to watch Man United beat Real Betis 4-1 in the first-leg of their Europa League last 16 tie.
Reports earlier this week suggested investors from Elliott were willing to stump up cash to help improve Old Trafford.
The group are believed to be willing to finance £2bn towards stadium improvements.
This is the latest twist in the ongoing saga of Man United’s ownership.
Since the Glazers went public with their intentions, several bidders have shown interest in buying the club.
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The most prominent bids come from Ratcliffe, who has long been open about his interest in the club.
Ratcliffe is a United fan and tried to buy Chelsea last year.
He is the founder and chairman of huge chemical company Ineos.
But he and his group face fierce competition from Sheikh Jassim Bin Hamad Al Thani, a member of Qatar’s ruling royal family.
They are believed to have lodged a bid up to £5billion and want “100 per cent” control of United.
Despite the ownership process seemingly gathering a head of steam, SunSport exclusively revealed earlier this week that the Red Devils could be taken OFF the sales market.
Instead the Glazer family is considering a scheme to make money from the club’s global fanbase and not the football pitch.
The unusual set-up would see the Glazers join forces with one deep-pocketed financier to create the new entity.
This would allow them to rake in money from potential opportunities from digital sales, video gaming, merchandise licensing that would be separate to what happens to the pitch.
Such a move would be a significant watering down of the family’s ambitions to oversee a full sale.