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Glazer family owners of Manchester United are thinking about selling the Premier League team

The Glazer family, who control Manchester United, has stated that they are looking into selling the organization while they “explore strategic alternatives.”

For £790 million ($1.34 billion), the Americans acquired the Old Trafford team in 2005.

After years of fan protests against their ownership, it finally happened.

The board would “examine all strategic alternatives, including new investment into the club, a sale, or other transactions involving the firm,” according to a statement from the club.

In order to improve “the long-term success of the club’s men’s, women’s, and academy teams, and bringing benefits to fans and other stakeholders,” it was added that the process “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.”

The Glazers listed 10% of their holding on the stock market in 2012, and they subsequently sold more shares.

Executive co-chairmen and directors Avram and Joel Glazer said, “As we want to continue constructing the club’s legacy of success, the board has authorized a thorough study of strategic alternatives.

“We will weigh all of our alternatives to make sure that we can best serve our supporters and that Manchester United takes advantage of the huge development potential that is currently and in the future open to the team.

We will remain entirely committed to looking out for the interests of our supporters, stockholders, and other stakeholders throughout this process.

United’s exclusive financial advisor is American investment firm Raine Group, which oversaw Chelsea’s £4.25 billion sale in May.

“There can be no promise that the review being performed will result in any sale involving the company,” the club statement continued.

Until the board has approved a specific transaction or other courses of action necessitating a formal announcement, Manchester United does not intend to make further comments regarding the review.

Since winning the Europa League and EFL Cup in 2017, United, who are currently fifth in the Premier League, have not won the championship.

Numerous demonstrations against the Glazers’ ownership have taken place in recent years, notably one in May 2021 that forced the postponement of United’s home league game against Liverpool.

In protest before the same match this season, in August, thousands of fans marched to Old Trafford.

United participated in the unsuccessful European Super League initiative, which fell apart quickly in April 2021. Later, Joel Glazer, the co-chairman of Manchester United, issued an apology for the disturbance.

Since the dissatisfaction among fans, he has participated in Supporters’ Forums and made a commitment to give fans access to shares.

Glazer family owners of Manchester United are thinking about selling the Premier League team
Glazer family owners of Manchester United are thinking about selling the Premier League team

Cristiano Ronaldo, the captain of Portugal, criticized Manchester United’s ownership in a contentious interview last week, claiming that the Glazer family “doesn’t care about the club” on a sporting level. Cristiano Ronaldo left Manchester United on Tuesday with immediate effect.

United’s decision to be sold comes after Tom Werner, the chairman of Liverpool, said Fenway Sports Group was “exploring a sale” of the Anfield club.

According to a Bloomberg article from August 2022, the Glazer family was open to selling a small portion of the club.

Before claiming in October that the Glazer family had informed him they did not want to sell, British billionaire Sir Jim Ratcliffe said he would be interested in purchasing the club.

source: summarybio.com