Man Utd owners Glazers 'receive new offer' to keep in touch with Qatar and Jim Ratcliffe

Manchester United owners the Glazers have reportedly received a new offer from Genevra Associates with the consortium looking to buy a minority stake in the club. This development is a blow to both Sir Jim Ratcliffe and Qatari banker Sheikh Jassim bin Hamad Al Thani who, until now, were the only parties to have publicly shown interest.

United first went on the market in November after the Glazer family announced they were "initiating a process of exploring strategic alternatives" for the club. Options ranging from “bringing new investment into the club, a sale or other transactions involving the business” were to be considered with interested parties invited to come forward.

A full sale was widely seen as the most likely outcome, but recent reports have suggested the Glazers would be willing to retain control by selling only a minority stake, which increasingly seems possible.

The soft deadline for bids passed two weeks ago and Raine Group is expected to get back to interested parties in the coming days. Luxembourg hedge fund Genevra Associates will be among that number according to AP News after presenting itself as a potential candidate.

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The group's offer would see the Glazers retain overall control of the club and they are keen to work with the current owners on their offer if certain conditions are met.

The hedge fund has told fans it intends to keep them updated on all the latest developments via social media, with founding partner Shah Farsi pledging to act as a force for reform.

"We understand that United fans have been rightly frustrated in recent years," he said. "Our aim is to act as a force for reform that aligns the interests of owners and fans and to push for much-needed transformation at the club.

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"We have received a number of strong commitments over the past few weeks and hope to turn this into a unique win-win opportunity for everyone involved."

Rising speculation that the Glazers could be set for an extended stay has not fared well in the markets, with the club's share price plunging 10% on the New York Stock Exchange.

The Americans are demanding a bid of over £5 billion if they were to sell, a figure which has not been met by any of the interested parties. It remains to be seen what will happen in the coming weeks as the saga continues to drag on.