Manchester United owners the Glazer family have revealed that they are considering selling the Premier League club.
As they look to ‘explore strategic alternatives’, the family stated that this could include new investment into the club, a sale, or other transactions.
Executive Co-Chairmen and Directors of the club, Avram Glazer and Joel Glazer, said: “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1bn 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.”
This process will include an assessment of several initiatives to strengthen the club which will contain stadium and infrastructure redevelopment, and an expansion of the club’s global commercial operations.
The Glazers added: “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 is acting as the company’s exclusive financial advisor and Latham & Watkins LLP is legal counsel to the company.
Manchester United has asserted that even though the review is being undertaken, it will not definitely result in any transaction involving the company.
Following their £790m leveraged buy-out in 2005, there have been multiple protests against the Glazers’ ownership of United in the past few years, such as in May 2021 which caused a home league match against Liverpool to be postponed.
Similarly, owners of Liverpool, Fenway Sports Group, are also currently exploring options for the sale of a club which was bought in 2010 for £300m.
The news of Manchester United’s sale comes in line with Cristiano Ronaldo‘s departure, who was deemed heavily critical of manager Erik ten Hag and club officials in a recent interview.
Manchester United have won a record 20 League titles, but is yet to win a Premier League title since Sir Alex Ferguson’s final season in charge in 2012-13.