The Red Knights consortium has met to finalise plans to launch a takeover of Manchester United and are hopeful terms of an offer will be ready for submission within days.
However, the group of wealthy United fans, which includes Goldman Sachs chief economist Jim O’Neill, a former United director, do not expect to make a formal bid for the club before the end of the season.
Today’s talks were held to confirm exactly where the money will come from to fund a bid and to determine the level of fan involvement in the proposed ownership structure.
Investment bank Nomura have been advising both the Red Knights and the Manchester United Supporters’ Trust (MUST), who have been supportive of the takeover bid.
A source close to the talks said: “We are now developing the financial model before making a bid. This is very much getting into the details of funding and future ownership.”
The Glazers bought United for £800 million in 2005 but loaded debt on to the club – the total debt now exceeds £700 million.
