The late nights spent crunching the numbers. Checking and double-checking that financial backers will make good on their promises.
Then that final bid emailed to the
“Just before you put in the formal bid you go through all of the debate,” Broughton, who has no intention of making a bid for United, told The Associated Press on Wednesday. “How much leeway do we leave ourselves? We need to be on the shortlist. At the same time, we don’t want to be overpaying.”
Friday has been described as a soft deadline for initial offers before the process of determining the next owner of United gathers pace.
Broughton, a 75-year-old businessman who is the former chairman of
United is estimated to command as much as double that figure after the American-owning Glazer family announced their willingness to sell last November.
So far
“I don’t know how many bids there were for
One of those was Ratcliffe, who, despite matching the bid of Boehly and Clearlake, missed the deadline set by Raine and wasn’t considered. He hasn’t repeated that mistake with United, declaring last month his intention to move for the club he has supported since childhood.
“Jim wants it. He’s prepared to pay properly for it. My surmise would be he’s willing to come up with a big number,” Broughton said. “Personally, I would guess he’d be at the 4-5 billion pounds (
“Jim, in the
Broughton, a
“We didn’t see it as just a financial transaction. We saw it more as an opportunity for a greater level of fan involvement. Jim is a fan,” Broughton said, adding “somebody who is a fan, I think is preferable because they will think about what the fans want.”
Broughton said he wouldn’t be surprised if only a “very small number” of buyers come forward for United, given the estimated price and further investment required to redevelop the club’s iconic Old Trafford stadium.
A Qatari-backed bid is expected, while it is unknown if a rival offer from the
Broughton sees
“They might feel a knockout price (would do it and say) ... We’ll give you 6 billion (pounds;
Broughton has written a memoir of his career called “Whenever I Hear That Song.” In it, he recounts overseeing the sale of
While he has sounded out potential investors in
Proceeds from his book will go to the charity Retraining of Racehorses.
Another passion is
That money has so far failed to produce success on the field, with
Broughton said he “very much” regrets missing out on
“My principle conclusion would be he (Boehly) has shown the commitment that he intends to make a success of it,” Broughton said. “If you compare that to the Glazers, for example, the Glazers have always operated like, ‘How can we make money out of this?’
“He is looking at it as, ‘I want this to be a success. I want people to see that my ownership of
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