Todd Boehly and media veteran David Montgomery are considering collaborating on a joint bid. The Abu Dhabi fund, which owns The Telegraph, is firm on not entertaining offers below their asking price despite their intention to sell almost a year ago.

Sources close to RedBird IMI issued a warning after David Montgomery and Todd Boehly expressed interest in making a joint bid for The Telegraph. Reports suggest they aim to offer less than the seller's asking price of over £500m, a move that was immediately dismissed by RedBird IMI.

The sale process of The Telegraph has faced challenges as investors have been reluctant to meet the high price set by the Abu Dhabi fund. The fund decided to sell the newspaper following restrictions on foreign state ownership. Concerns have been raised in Parliament regarding the Culture Secretary, Lisa Nandy, and her handling of the situation, accusing her of favoring UAE’s interests over press freedom.

RedBird IMI stands firm on rejecting any offers below their asking price, fueling speculation over potential legal actions against the Culture Secretary. The future of The Telegraph's ownership remains uncertain, with National World and Eldridge considering a possible takeover bid using National World as a funding vehicle.