Managers of major Manchester United Plc (NYSE:MANU) shareholder Lindsell Train say they are unsure if the purported takeover from billionaire Jim Ratcliffe is going ahead or how much it will value the football club.
While the purchase of a 25% stake by Ratcliffe and his Ineos chemicals group is reported to value Man United at up to $6.5 billion, Nick Train told the Financial Times he expects the purposrted deal will provide a big boost to the firm's flagship UK fund and investment trust.
The firm is a 20% shareholder in United, via its UK Equity Fund and Lindsell Train Investment Trust PLC (LSE:LTI).
Train told the FT that he could only "assume" that the deal was progressing "but who knows when or quite what shape it will take".
Last month, shares in the New York-listed club dropped sharply when reports emerged that Ratcliffe was going to pay around $1.5 billion for a 25% stake rather than complete a full takeover.
It has since emerged that the deal will see the club receive an additional $300 million from Ratcliffe to upgrade its infrastructure.