THE Glazer family are in line to make a huge profit when they sell Manchester United.
Bids have been lodged by Qatari Sheikh Jassim Bin Hamad Al Thani and boyhood United fan Sir Jim Ratcliffe.
The Qatari bid is worth £5bn, far more than the Glazers paid for the Red Devils.
After purchasing the club in a leveraged buy-out, the Glazer family only put in £150million of their own money in 17 years at the helm, as per Sky Sports – while taking money in dividends.
They now stand to make at least between £4bn-£5bn.
And they are even hoping to receive an offer worth £6bn.
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This would see them receive a sum worth around 40 times what they spent on the club.
The money they receive will also be TAX FREE.
This is because they moved the official club HQ from Old Trafford to the Cayman Islands.
Ratcliffe, 70, has revealed his initial aim if named the successful bidder.
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Having received Wall Street backing, a source close to the INEOS chief told the Telegraph: “His aim is to be a long-term custodian of Manchester United and set the standard for a progressive approach to club ownership.
“As locally born, he wants to put the Manchester back into Manchester United.”
Sheikh Jassim, meanwhile, is the son of former Qatari Prime Minister Hamad.
He has vowed to make the club debt free, while restoring them to “former glories”.
The Raine Group, the bank overseeing the sale, will determine the next step, following last night’s soft deadline.
This will involve putting together a shortlist of bidders, much like the one that was compiled during the process that saw Todd Boehly buy Chelsea last year.
Source: Soccer - thesun.co.uk
