of Manchester United The owners announced their intention on Tuesday to explore the sale of the iconic club, saying a “process of exploring strategic alternatives” had begun.
Those options could include the sale of the entire club by the Glazer family, which took control of Manchester United in 2005.Manchester United owners are exploring the club.
“Part of the process. The committee will consider all strategic options. This includes new investments in the club, sale or other transactions involving the company,” a United statement said.
The sale of the club is not guaranteed according to the statement.
“There can be no guarantee that an investigation being performed will result in any transaction involving the Company,” it read.
Avram and Joel Glazer were quoted in a statement as saying: “As we strive to continue the club’s history of success, The committee has allowed for a thorough assessment of strategic options.
“We will evaluate all options to ensure we provide the best possible service for our fans and to ensure Manchester United adds significant growth opportunities to the club now and into the future.
“Throughout this process We will remain fully focused on serving the best interests of our fans, shareholders and stakeholders.”
United confirmed that the Raine Group acted as financial adviser to the Glazer family, while Latham and Watkins LLP served as legal counsel to the Rothschild and Co. acting as financial adviser to the family’s shareholders.
United is a rarity in the world of sport and finance.
It is one of the few major sports franchises that are publicly traded. But there are some franchises. Shares of United’s two rivals are publicly traded on European stock exchanges – Germany’s Borussia Dortmund are traded in Frankfurt. While Italian Juventus are registered in Milan.
According to Forbes, Manchester United is the third most valuable football club in the world with a value of $4.6 billion, behind only Spanish giants Real Madrid and Barcelona.
However, the club has not won any trophies since 2017 and has had a succession of managers since Alex. Ferguson retired from office in 2013.
The current incumbent, Erik ten Hag, is the fifth permanent manager appointed by United. Since Alex Ferguson succeeded David Moyes, Louis van Gaal, Jose Mourinho and Ole Gunnar Solskjaer.
Earlier on Tuesday, United announced that Cristiano Ronaldo is leaving the club with immediate effect.