Thomas Zilliacus Proposes Fan-Funded Bid To Buy Manchester United

Thomas Zilliacus says he has submitted a bid to buy Manchester United involving the club's fans stumping up half of the cash.

The Finnish entrepreneur's proposal for the club is said to be worth $3.9 billion - which is around $3.5bn less than the ambitious asking price set by the Glazer family.

Zilliacus plans to buy half of the club and allow fans to join together to purchase the remaining shares via much smaller contributions on an app.

"Any sport club ultimately should belong to its fans. My bid is built on equality with fans," Zilliacus explained.

"The current development, where billionaire sheiks and oligarchs take over clubs and control them as their personal playgrounds is not a healthy trend.

"The current market value of the club is just under $3.9bn. That means that if every one of the fans of the club would join in buying the club, the total sum per fan would amount to less than $6.

"My group will finance half of the sum needed to take over the club, and will ask the fans, through a new company that is being set up for this specific purpose, to participate for the other half.

"If every fan joins it means less than $3 per fan."

Using the figures suggested by Zilliacus, it would take 650 million fans each investing $3 to raise half of his $3.9bn offer.

Zilliacus is the founder of a social media company called novaM Group.

His intention is to buy United through investment firm XXI Century Capital, which is owned by his holding company.

United's current owners had set a deadline of 9pm on Wednesday for bids to be submitted.

But that deadline has now been extended.

Sir Jim Ratcliffe and Qatar's Sheikh Jassim are seen as the leading candidates so far.

Thomas Zilliacus wants to buy Manchester United

IMAGO/PA Images/Zac Goodwin