Manchester United’s New York-listed shares lost 8% to US$23.13 in value on Tuesday, wiping some US$500mln of its market value to US$3.7bn.
It’s the latest development in the overarching story that is the proposed sale of three of England’s ‘top six’ Premier League clubs.
Liverpool and Tottenham are both also on the market in some capacity, however, their proposed takeovers/investments are seemingly less advanced and garnering less media coverage than that of Manchester United.
Here is what we know so far about all three clubs.
Manchester United
The Manchester-based club, owned by The Glazer family, is the most advanced in the sale process.
Raine Group, the investment bank conducting the sales process, received soft bids last Friday from potential would-be buyers.
So far, we know Sir Jim Ratcliffe, who created chemicals company INEOS, and Sheikh Jassim bin Hamad Al Thani, son of the former president of Qatar have put themselves into the hat.
Ratcliffe’s bid is for a 69% stake, buying out the Glazers, while Sheikh Jassim is proposing a complete takeover.
US-based investment firm Elliot Management also confirmed it would help fund any potential takeover, sparking rumours it could finance a deal for the Glazer family members who wish to stay in control.
Now that soft bids have been put forward, those who registered their interest will have access to the club’s financial data before deciding whether to place a firm bid.
Liverpool
Liverpool, which was put on sale a couple of weeks before Manchester United, has seemingly taken themselves off the market.
Speaking to The Boston Globe, FSG’s principal owner John W Henry said he isn’t considering a sale of the football club, but rather seeking an investment.
Media speculation suggested that Liverpool hadn’t received the same level of interest as Manchester United, although it is unclear whether this has prompted FSG’s apparent change of heart.
Next for Liverpool would be attracting potential investors and settling on a stake for that investment.
Tottenham
Tottenham never officially put themselves up for sale in the way Manchester United and, to some extent, Liverpool did.
However, ENIC, which bought Alan Sugar’s 29.9% stake in 2000 has always been of the mind that it would be open for a sale, according to The Atheltic.
Since 2000, the club's value has increased from £80mln to around £3bn, and ENIC, the British investment company, now owns a nearly 90% stake in the club.
Due to never officially putting themselves up for sale, Tottenham’s ‘takeover’ hasn’t been as formal or as well documented as Manchester United’s.
That doesn’t mean, however, that the club isn't attracting interest.
A report from the Financial Times earlier this month said Iranian-American billionaire Jahm Najafi, chair of MSP Sports Capital, was set to launch a US$3.75bn takeover of the club.
MSP Sports, a global sports private equity firm, is said to be weeks away from approaching Spurs with a formal bid.
Manchester United’s takeover is further along the line and seems the most straightforward process so far.
Liverpool, seemingly, has distanced themselves from a full takeover while Spurs never ‘officially’ went on the market.