manchester United Owners Consider Sale

The owners of Premier League football club Manchester United, the Glazer family, have revealed that they are considering selling the club.

The American owners are willing to listen to offers for the club after a 17-year reign which has been dominated by fan protests and declining on-pitch performance, as well as involvement in the failed European Super League.

A statement from the club said the board will ‘consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.’

If the club is sold, it is expected to be purchased by US investors at a value of roughly £5bn.

The club also stated that the process would ‘include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.’

Executive co-chairmen and directors Avram Glazer and Joel Glazer, commented, “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. As we seek to continue building on the club’s history of success, the Board has authorised a thorough evaluation of strategic alternatives.

“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximises the significant growth opportunities available to the club today and in the future. Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”

The Raine Group, who were previously employed by Roman Abramovich to manage the sale of Chelsea FC to US businessman Todd Boehly earlier this year, will be acting as the club’s ‘exclusive financial advisor’ throughout the sales process.

Rothschild and Co. is meanwhile acting as exclusive financial advisor to the Glazer family shareholders.

US sports tycoon Malcolm Glazer first secured control of Manchester United in a £790m takeover in 2005. United has not won the Premier League title since 2013 and has struggled to compete with the likes of Manchester City and Liverpool since Sir Alex Ferguson’s retirement.

On Monday, the club also announced star striker Cristiano Ronaldo would be leaving Manchester United with immediate effect following an interview in which he strongly criticised the Glazer’s ownership.