American fund Elliott enters the race for Manchester United purchase

The investment fund “Elliott” has reached the second stage of the negotiations for Manchester United, Sky Sports’ Kaven Solhekol reports.

The Americans have presented their financing proposal, which is open to all parties involved in the process, but they themselves do not wish to buy the club. People from the hedge fund were in the stands during yesterday’s victory of the Red Devils over Betis with 4:1 in the first match of the round of 16 in the Europa League.

Elliott Management have made it through to the second stage of the Man United sale process. US hedge fund has submitted proposal for financing which is open to all parties. They don’t want to buy United. Representatives from Elliott were at United game at Old Trafford last night

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— Kaveh Solhekol (@SkyKaveh) March 10, 2023

Elliott provided financing to Li Yonghong when the Chinese businesman bought AC Milan in 2017 for €740 million. A year later, the Americans took control of the Italian giant after Li Yonghong failed to pay back his 300 million euro loan with a rather high interest rate. Last summer, the hedge fund sold Milan to another American-based investor “Redbird” for one billion two hundred million euros.