The Glazer Family open to selling Man United.
Manchester United owners, The Glazer Family are willing to listen to offers for the club after a 17 year reign that was dominated with protest and poor performances on the pitch.
The Club is valued around £5bn, And if sold is expected to be purchased by US investors. A statement by Manchester United confirmed plans to identify “strategic alternatives”.
And will also consider options including new investment into the club, a sale, or other transactions involving the company.
Manchester United shares rose immediately by 17% as a result, adding almost $400m (£336.4m) to the Club market Capitalization, according to report from football finance expert Kieran Maguire.
Man United official statement;
Manchester United plc (NYSE:MANU), one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club. The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially. As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company. This will 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 said:
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 authorized a thorough evaluation of strategic alternatives.
We will evaluate all options to ensure that we best serve our fans. And that Manchester United maximize 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.
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Man United haven’t won the Premier League title since 2013, And have sacked a concatenation of managers in the aftermath of the retirement of Sir Alex Ferguson.
On the other hand, United recently were involved in a legal fight with Cristiano Ronaldo over an interview
in which he criticized United’s ambition and lambasted the Glazers’ approach to owning it.
On Tuesday, United announced that Ronaldo had left the Club with immediate effect.