Finnish entrepreneur Thomas Zilliacus has submitted a bid to buy Manchester United, proposing a 50/50 ownership model where fans fund half the purchase. The 69-year-old founder of NovaM Group claims his offer, made through investment firm XXI Century Capital, values the club at its current market price of just under $3.9bn (£3.17bn). However, rival bidders have dismissed the proposal as a publicity stunt and unworkable, insisting only a full takeover by a single buyer will persuade the Glazer family to sell.
Zilliacus's plan would see fans contribute the other half via a new company, with each of United's estimated fanbase paying less than $3 per person. He argues that the trend of billionaires and oligarchs treating clubs as personal playgrounds is unhealthy, stating: 'Any sports club ultimately should belong to its fans.' Supporters would gain voting rights on football matters through a dedicated app.
The bid comes amid a chaotic sale process, with Wednesday's 9pm deadline extended by 48 hours at the request of frontrunners Sheikh Jassim bin Hamad Al-Thani and Sir Jim Ratcliffe. Meanwhile, US-based Elliott Investment Management, former owners of AC Milan, has offered to buy a minority stake, though the Glazers are believed to favour a full sale.
Zilliacus, who previously owned stakes in Finnish clubs HJK Helsinki and Jokerit, faces scepticism from rivals who note that valuing United at £3.45bn would require around 325 million fans to participate. The Glazers, who bought the club in 2005 via a leveraged deal that loaded debt onto United, are reportedly seeking £6bn.
