Key Takeaways:
- Thomas Zilliacus stated he would consider a renewed investment attempt in Manchester United if the Glazers agree to open sale discussions
- Man United reportedly attract a valuation of £2 billion ($2.7bn) but a bid near £5.2bn ($6.9bn), due to stadium plans, may be necessary to tempt current owners
- Supporters remain unhappy with the Glazers as the club’s on-field progress stalls and the team faces another season without European football in 2026-27
The Ownership Landscape: Negotiations and Valuations
Finnish businessman Thomas Zilliacus, who was previously involved in the Manchester United takeover process in 2023, has revealed he would be ready to revisit discussions should the Glazer family indicate willingness to negotiate a sale. Zilliacus has expressed his openness to collaborating with other investors, including Sir Jim Ratcliffe, whose INEOS group purchased a 25 per cent share in the club last year and assumed responsibility for football operations.
Despite Ratcliffe’s involvement, significant on-field progress has failed to materialise. The fanbase continues to vocalise dissatisfaction towards the club’s hierarchy, with questions persisting over the direction and management of the club.
Finnish entrepreneur Thomas Zilliacus claims he’s planning to approach investors in a bid to purchase #mufc and also states he would be interested in working with Sir Jim Ratcliffe and other backers [@ManUtdMEN] pic.twitter.com/7zp9nnZnu3
— utdreport (@utdreport) October 10, 2025
Potential Investors and Ongoing Talks
Recent reports have again suggested the prospect of new ownership. Turki Al-Sheikh, recognised for his role in bringing major sporting events to Saudi Arabia, claimed talks with potential new owners are at an advanced stage. He shared via social media: “The best news I heard today is that Manchester United is now in an advanced stage of completing a deal to sell to a new investor… I hope he’s better than the previous owners.”
He further clarified his position: “Yesterday’s post about Manchester United’s potential sale meant one thing: the club is in an advanced negotiation phase with a new investor. Just to clarify, I am not the investor, nor are they from my nation. I’m posting this as a fan who wishes the deal to happen, though it might not necessarily happen.”
Currently, Manchester United have an estimated value of £2 billion ($2.7bn). However, expectations are that an offer closer to £5.2bn ($6.9bn) may be necessary to persuade the Glazer family, particularly as the club is considering the development of a new 100,000-seater stadium.
| Stakeholder | Role/Interest | Latest Position |
|---|---|---|
| Glazer Family | Majority Owners | Reportedly open to sale if valuation met |
| Sir Jim Ratcliffe | Investor/INEOS Group | Holds 25% stake; controls football operations |
| Thomas Zilliacus | Former Bidder | Keen to return to negotiations and work with other investors |
| Turki Al-Sheikh | Saudi Sports Event Organiser/Fan | Claims advanced talks with new owners, not personally involved |
Zilliacus’s Approach and Supporter Engagement
Speaking to the Manchester Evening News, Zilliacus detailed the proactive steps he has recently taken towards putting together an investment package for Manchester United. He emphasised a desire to work with like-minded parties, stating: “Last week, I was sitting and thinking through all the possibilities of investing in Manchester United and drafting a basic plan on how I could approach certain parties to see if something could be done. This is about joining forces with the right parties with the sole aim of bringing Manchester United back to where it should be as the number one club in the world.”
Zilliacus placed particular importance on supporter involvement: “I think the Glazers, unfortunately, are a good example of somebody who is not really looking out for the club, but rather using it as a cash cow. But in any case, they are not doing what should be done.
“I have a program that involves the fans who are overseas, who cannot come to watch a game. And my program can evolve in a way that can bring significant new revenues to the club. So with that money the club could do all the things it needs to do to be truly the best football club in the world, where all the best players, the best managers, everybody wants to be there.”
Collaboration and Historical Context
Zilliacus has asserted his readiness to cooperate with other investors, including both Sir Jim Ratcliffe and Sheikh Jassim bin Hamad al-Thani, reiterating: “I actually have nothing against working with people like Jim Ratcliffe or any investor, whoever that may be. Because I’m not in this to have a trophy that I can show off to other people. I’m in this to make a club that I’ve been a fan of since I was 12 years old the best club in the world. My heart cries when I see how things are going today. Manchester United are so far below where the club should be and could be if things were managed the right way.”
He continued his account of the previous bidding process: “When I had made my bid I realised that the Glazers were playing a game where Jim Ratcliffe and Sheikh Jassim and myself were just trying to outbid each other. So the price was just going higher and higher and higher. I publicly said that this is madness, that this is money that should be used for the club and not to further enrich the Glazers. So I said, ‘Why don’t we join forces and take over the club together?’ I’m still completely open to that, and I would be more than happy to speak to Sheikh Jassim or to Jim Ratcliffe or any other investor about how we could work together.”
The Glazers assumed control of Manchester United in 2005. Since then, multiple attempts to acquire the club have failed to sway the American owners. This ongoing instability has drawn persistent criticism, with significant transfer spending failing to halt Manchester United’s decline on the pitch. Currently, the club is without European football in the 2025-26 season, and questions over Ruben Amorim’s future as manager continue to circulate.
