Manchester United has announced that the Glazer family will be exploring a potential sale of the club. The American group have been at the helm of the Old Trafford outfit for 17 years, with numerous fan protests being staged during that time.
Many feel that the Red Devils have declined since the Glazers took over, with the club failing to win a Premier League title since 2013 when Sir Alex Ferguson retired. The Red Devils are in the middle of a rebuild currently under Erik ten Hag and the club are now welcoming offers for a partial or full takeover.
Its statement read: “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.
JUST IN: England star Declan Rice relishing chance to prove critics wrong
Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer vowed they want to do what ‘best serves the fans’ in a rare address to the United faithful. A joint statement 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 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.”
The news comes after the Glazers faced years of fan protests to walk away from the club. Supporters took to social media in their flocks on Tuesday evening to celebrate the news with one fan claiming that ‘Christmas had come early’ after Cristiano Ronaldo’s exit from the club was also announced.
The statement then went on to explain that The Raine Group would be acting as the exclusive financial advisor, the company who were in charge of finding Chelsea new ownership after Roman Abramovich’s assets were frozen earlier this year. It was then stressed that the review may not definitely result in a ‘transaction involving the Company’.
It remains to be seen which groups/figures come forward with interest in purchasing United over the coming months and whether the Glazers are willing to sell the entire club or only a part. Several key figures have come out and criticised the Glazers over the past few years, with Cristiano Ronaldo the latest to share his views on the ownership. In his explosive interview with Piers Morgan, which led to his contract with the club being terminated on Tuesday. Ronaldo said earlier this month in a damning attack on the American billionaires: “The owners, the Glazers, they don’t care about the club.
“I mean, professional sport. As you know, Manchester is a marketing club. They’ll get their money from the marketing.”The sports… they don’t really care, in my opinion.”
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Football News Click Here
