Finnish businessman Thomas Zilliacus has revealed a new approach to secure backing in his pursuit to purchase Manchester United. The entrepreneur had previously put forward a scheme that could have delivered the club a staggering $20billion in 2023.
Zilliacus was amongst the bidders, alongside Sheikh Jassim and Sir Jim Ratcliffe, when the Glazer family weighed up selling some or all of the club two years ago.
Although his supporter-driven proposal failed to progress, he maintains it would have proved a lucrative opportunity. The former Nokia executive disclosed that his team had been developing an application that would have enabled supporters to acquire a small ownership share in the club and some influence over its operations for a cost of $400.
This “Swedish model”, as he termed it, had undergone testing and theoretically could have raised up to $20b if merely five per cent of his projected one billion United supporters globally had been reached.
Zilliacus has now declared that he remains prepared to invest in the club once more.
His revised stance encompasses a readiness to work alongside other investors, including the Glazers, amidst continuing speculation that the club is available for purchase.
He told the Manchester Evening News: “I would have no problem working with the Glazers. They could even hold a minority position where they could continue to enjoy a nice cash flow.
“But at the same time, the club could be developed so that it becomes once again, the best club in the world. And the fans are happy and everybody’s happy. That’s the way I see it.”
Zilliacus believes that despite his new proposal and readiness to work with the current majority shareholders, the Glazer family will soon sell their stake. He also anticipates they will ask for a price higher than the club’s actual worth.
When asked if he thinks the Glazers will soon leave Old Trafford, Zilliacus replied: “I would think so. I mean, they have already made so much money out of the club.
“They have not gelled well with the fans. I don’t think people want to forever be involved with assets where they get a lot of negative feedback as owners, as the Glazers continue to do.
“So I would think that if the price is right, yes, they want to sell. That’s how I would see it. I think that the time for that to happen will be pretty soon.
“But looking at the experience two years ago, I think they will demand a hell of a lot and they will ask for more than what the club really is worth. But then again, there are two ways to look at the club.
“One is what is it worth today and the other is what it can become. What can it be worth with the right decisions made? The program that I have to engage the club to perhaps a billion fans around the world, that is where I see the real value.
“That value is very high, which means that you could actually justify a higher price than what the valuation is today, because of the potential that fan base holds.”