Manchester United’s owners are expected to be offered a cash lump sum in exchange for a share of future TV income as a way of raising money to pay for the expansion of Old Trafford.
The Glazer family are understood to be exploring different ways to raise investment, including a loan or selling a minority stake in the club. The other possible option, which industry insiders say is certain to be offered by investment firms, would be to follow Barcelona’s example and do a deal with a finance company for a lump sum in return for a percentage of future TV rights income.
The Glazers need to fund infrastructure work costing about £200 million to raise the Old Trafford capacity to 90,000 and improve the training ground.
There have been reports of talks between the Glazers and Apollo Global Management, an American firm whose main business is providing finance. In May, Apollo offered Mexico’s football league Liga MX $1.25 billion in exchange for 20 per cent of overseas TV rights over the next 50 years.
Barcelona did a €207.5 million deal in June with American investment firm Sixth Street for ten per cent of their TV rights over 25 years and has since sold another 15 per cent to the company for an undisclosed sum.
Any such deals or new loans would be unpopular with United fans, but the Barcelona-style deal could have one advantage if it does not appear on a club’s books as debt.
