Club for sale?
Just hours after announcing the mutual agreement to terminate Cristiano Ronaldo’s contract, Manchester United fans faced another bombshell. The Athletic reported on Tuesday night that the club’s owners, the Glazer family, have instructed banks to handle the sale of the club. The club has hired the Raine Group, which was also in charge of handling Roman Abramovich’s sale of Chelsea, to act as the club’s financial advisor.
For sale?
Man United confirmed in a club statement that they will pursue strategic changes. Could the Glazers finally be on their way out? pic.twitter.com/0tqHz8kGqV
— Transfermarkt.co.uk (@TMuk_news) November 22, 2022
Man United have since confirmed that they have started to “explore strategic alternatives” in a club statement. “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,” the statement added. “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.”
“As we seek to continue building on the Club’s history of success, the Board has authorized a thorough evaluation of strategic alternatives,” executive co-chairmen and directors Avram Glazer and Joel Glazer said in a club statement. “We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes 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.”
Boehly, Bin Salman & Co. – The owners of the 20 Premier League clubs
Man United without a championship since 2013 – Glazer’s to receive billions?
The Glazers bought the club for £790 million in 2005, and their reign has been overshadowed by frequent fan protests. Furthermore, the English giants, who dominated the Premier League under Sir Alex Ferguson throughout the 1990s and 2000s, have been without a league title since 2013. Man United are reportedly not the only club for sale. Liverpool owners FSG are reportedly looking to generate over €4 billion from a sale. American Todd Boehly recently bought Chelsea for €2.92bn.
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