Finnish businessman Tomas Ziliakas has unveiled a new approach to securing support for his bid to buy Manchester United. The entrepreneur previously proposed a plan that could provide the club with a staggering $20 billion in funding in 2023.
When the Glazer family considered selling part or all of the club two years ago, Zilliakas was one of the bidders, along with Sheikh Jassim and Sir Jim Ratcliffe.
Although his advocate-led proposal did not progress, he maintains it would have been a lucrative opportunity. The former Nokia executive revealed that his team was developing an application that would allow supporters to gain a small amount of ownership and influence over the club’s operations for $400.
The “Swedish model”, as he called it, has been tested and, in theory, could have raised up to $20 billion if it had reached just 5% of the 1 billion United supporters he predicts worldwide.
Ziliakas has now declared that he is willing to invest in the club again.
His revised stance includes a readiness to work with other investors, including the Glazers, amid continued speculation that the club could be acquired.
He told the Manchester Evening News: “I have no problem working with the Glazers. They will be able to retain their minority status and continue to enjoy good cash flow.”
“But at the same time, the club can develop to become the best club in the world again. And the fans are happy, everyone is happy. That’s my view.”
Despite his new offer and his readiness to work with current major shareholders, Mr. Ziliakas believes the Glazer family will soon sell their stake. He also expects the club to demand a higher price than his actual value.
Asked if he thought the Glazers would leave Old Trafford anytime soon, Ziliakas said: “I think so. I mean, they’ve already made a huge amount of money out of the club.”
“They don’t connect well with fans. People don’t want to be associated with a property that gets a lot of negative feedback as an owner forever, like the Glazer family still does.”
“So if the price is right, they’ll want to sell. I think so. I think it’s pretty close to when that will happen.”
“But if you look at the experience from two years ago, I think they will demand too much, more than the true value of the club. But again, there are two ways to look at the club.”
“One is whether it’s worth it today and the other is what it could be. If the right decision is made, what is it worth? A program that engages the club with perhaps a billion fans around the world, that’s where I think the real value is.”
“The value is very high, which means the potential fan base might actually justify a higher price than the current valuation.”
