A FAN-LED consortium are putting together a bid for Manchester United.
The club is up for sale after the Glazer family decided it was time to move on after nearly 20 years owning the football giant.
Bids from British billionaire Jim Ratcliffe and a Qatar investment group so far appear to be the favourites in the fight for ownership of Man United.
But another bid has reportedly emerged from fan-led group Red Devils United.
CBS reports that the group are “developing” an offer for the club.
They said they want to use “the collective power of Manchester United supporters to regain control of the club that they love.”
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The bid is believed to be a mix of private investors and fan-funding.
Any fans backing the group are being asked to buy NFTs in return for “membership and some control over decision making.”
Red Devils United are yet to formally enter the bidding process.
They said: “This will be the first time the club has heard of this project. We will send details of this proposal to Manchester United and will invite questions from the club, their representatives and the fanbase.”
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Group representative Lorenzo Alessi added: “The mission behind Red Devils United is to revolutionise and democratise elite sports ownership by giving supporters a voice at the highest levels of the game.”
This is the latest twist in the ongoing saga of Man United’s ownership.
Earlier today Elliott Management were revealed to have made it through to the second stage of the sales process.
The American hedge fund have submitted an offer which is open to all parties.
But they are reported to not want to buy United outright and instead offer financial backing to any groups who are interested.
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.
Red Devils United and Elliott Management are the latest groups to publicly declare an interest in the bidding process.
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The most prominent bids involve include British billionaire Sir Jim Ratcliffe, owner and chairman of chemicals firm Ineos.
And Sheikh Jassim Bin Hamad Al Thani, the chairman of Qatari bank QIB who is a member of Qatar’s ruling royal family.
Source: Soccer - thesun.co.uk
