An American hedge fund are willing to provide funding for Old Trafford’s redevelopment, which could cost up to £2billion, if they are unsuccessful in their attempts to buy a majority stake in Manchester United.
Elliott Management, former owners of AC Milan, submitted a proposal to United’s bankers Raine Group last Friday offering to provide financing to buy the club from the Glazers, but would also consider funding a stadium overhaul if the Americans opt to retain control or sell to another party.
Elliott’s offer for United is one of three that have made been public, after Qatar bank chairman Sheik Jassim bin Hamad Al Thani and Sir Jim Ratcliffe issued statements confirming their bids.
Upgrading Old Trafford will be a priority for whoever takes over and, as Sportsmail revealed last month, United have already been presented with several options by architects Populous, which range from a £1bn redevelopment to building a completely new stadium for £2bn.
ITV likely to seal EFL rights
ITV could regain live domestic league football next year for the first time since the collapse of ITV Digital in 2002, with the broadcaster showing a strong interest in bidding for EFL rights from 2024 onwards.
One of the 20 rights packages in the invitation to tender that will be issued next week is geared to free-to-air broadcasters, with one live EFL game each weekend up for grabs, and ITV have shown a greater level of interest than the BBC so far.
Cherries owner eyes Dundalk
Bournemouth owner Bill Foley is considering a bid for League of Ireland side Dundalk, just weeks after acquiring a 33 per cent stake in Ligue 1 club Lorient.
The American businessman is one of three parties showing an interest in Dundalk, with Hull City’s Turkish owners Acun Medya also holding talks with the club. Foley is keen to build up a multi-club portfolio after paying £150million for Bournemouth and is also targeting teams in South America.
Eton boy's royal appointment
Reading have offered a professional contract to Eton student Basil Tuma, who is deputy head boy at the public school. The 17-year-old winger made his first-team debut in Reading’s League Cup defeat by Stevenage last August, but has not played since as he is busy studying for his A-Levels.
Tuma also has academic options, having obtained 11 A*s in his GCSEs, but Reading are hopeful the Uganda-born youngster will choose to commit to football.
City snub Toure's FWA appointment
Manchester City snubbed a tribute dinner held for Yaya Toure by the Football Writers’ Association last weekend in a sign that the Ivory Coast midfielder’s long-running feud with Pep Guardiola has not ended. Toure has repeatedly apologised to Guardiola for claiming that the City manager had a problem working with African players five years ago, but has not received any response.
City booked tables when other players associated with the club such as Patrick Vieira and Vincent Kompany were honoured by the FWA in recent years, but no one from the club attended last Sunday’s event at the Landmark hotel in London.
Sandgaard faces £50m lawsuit
Charlton owner Thomas Sandgaard is facing a legal claim for up to £50million from a consortium led by former Sunderland director Charlie Methven. Sandgaard entered exclusive negotiations with a potential buyer, American businessman Marc Spiegel, less than two weeks after dumping the previous prospective owners.
Methven’s group had agreed to buy 90 per cent of the club for £8.5m, but Sandgaard withdrew while still in the exclusivity period. The consortium are suing Sandgaard for the loss of potential profits and any new Charlton owner will be named as co-defendant, which could derail the sale.
