Elliott Investment Management, the American hedge fund giant, entered the Manchester United takeover race on Friday night.
Sir Jim Ratcliffe and a group of Qatari investors have confirmed they made offers ahead of the deadline at the end of the week, but will face competition after a proposal from the US firm. Elliott manages assets worth a whopping $56billion (£46bn) and The Times reports it lodged an eleventh-hour offer just before the deadline for the first round of bids.
The hedge fund is led by Paul Singer and it is not aiming to obtain a majority share from the Glazer family, who announced United were up for sale last November. Instead, Elliott would like to provide the financing for a bid.
