An American hedge fund are willing to provide funding for Old Trafford’s redevelopment, which could cost up to £2billion, if they are unsuccessful in their attempts to buy a majority stake in Manchester United. Foley is keen to build up a multi-club portfolio after paying £150million for Bournemouth and is also targeting teams in South America. Sandgaard entered exclusive negotiations with a potential buyer, American businessman Marc Spiegel, less than two weeks after dumping the previous prospective owners. Methven’s group had agreed to buy 90 per cent of the club for £8.5m, but Sandgaard withdrew while still in the exclusivity period. The consortium are suing Sandgaard for the loss of potential profits and any new Charlton owner will be named as co-defendant, which could derail the sale.
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