Elliott Management make it through to the second stage of Manchester United sale process

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Elliott Management have made it through to the second stage of the Manchester United sale process.

The US hedge fund have submitted a proposal for financing which is open to all parties. They do not want to buy United.

Representatives from Elliott were at United’s game against Real Betis at Old Trafford last night.

The two leading bidders who want to buy the club have also made it through to the next stage.

Delegations representing Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe will be in Manchester next week for meetings and presentations.

Elliott helped finance the €740m takeover of AC Milan by Li Yonghong in 2017. Elliott took control of the club a year later when the Chinese businessman failed to make repayments on his €300m high-interest loan. Elliott sold AC Milan to investment firm Redbird in a $1.2bn deal last summer.

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