By Sam Boughedda
Manchester United Ltd (NYSE:MANU) shares dropped Friday after a report by the Express said the Glazers are leaning towards staying with minority investment.
The article states that insiders close to the situation told the publication that after two rounds, and no preferred bidder, some inside the club believe the Glazers do not want to lose their overall control of the club and believe the family will remain in charge but will welcome minority investment.
Sheikh Jassim bin Hamad Al-Thani of Qatar and British billionaire Sir Jim Ratcliffe will reportedly submit fresh proposals.
According to the Independent, the potential for the Glazers to remain at the club has been rising over the past few weeks and became more prominent when the family did not choose a preferred bidder last week, opting for a third round of bids.
The news will be an unwelcome development to fans of the Premier League giant, with a wide majority wanting the Glazers out of the club.
Manchester United shares fell more than 4% in reaction to the report.