ANI
23 Nov 2022, 13:55 GMT+10
Manchester [UK], November 23 (ANI): The Glazer family, the American owners of the English Football club Manchester United are open to the option of selling the club.
The owners are willing to listen to offers after a 17-year-long reign as owners, which had fan protests and a decline in on-field performances as two of its highlights.
The prestigious club, valued at aroundPound 5bn, if sold, is expected to be purchased by US investors, as per Sky sports.
Manchester United released a statement, confirming plans of identifying "strategic alternatives" and added that number of options like "including new investment into the club, a sale, or other transactions involving the company.""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," said the statement.
"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," concluded the statement.
Executive co-chairman directors Avram Glazer and Joel Glazer also were quoted as saying by Sky Sports, "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 authorised a thorough evaluation of strategic alternatives.""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, which falicitated the sale of the football club, Chelsea, over the summer acts as United's exclusive financial adviser. While for Glazer Family Shareholders, Rothschild and Co play the same roleThe statement by the club regarding the review of financial options, including a sale, would signal an end to years of speculation over whether the Glazers might be persuaded to offload a club which has over the years experienced a heavy decline as a football team. They have not won a Premier League title since 2013 and a number of managers have come and gone after the retirement of Alex Ferguson, the most decorated manager in the club's history.
More recently, the club are involved in a legal fight with Cristiano Ronaldo over a controversial interview in which he questioned the club's direction, and ambition and criticized the Glazers.
On Tuesday, the club announced that Ronaldo had left "with immediate effect". (ANI)
Get a daily dose of Birmingham News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Birmingham News.
More InformationWASHINGTON D.C.: The White House said this week that Tesla Chief Executive Elon Musk met with John Podesta, a Democratic ...
MANILA, Philippines: In an effort to attract more tourists, President Ferdinand Marcos has approved a value-added tax refund program for ...
TRIPOLI, Libya: Italian prime minister Giorgia Meloni held talks on energy and migration in Libya this weekend, which are major ...
MIAMI, Florida: This decade, the US south is expected to see more new residents than any other region in the ...
NEW YORK CITY, New York: After reporting record revenues in the fourth-quarter of 2022, US airlines expect strong travel demand ...
MANILA, Philippines: After a Filipina domestic worker was killed and dumped in the desert in the oil-rich emirate of Kuwait, ...
LONDON, England: Flybe, a British regional airline, abruptly closed operations on January 28. The airline offered flight to Belfast, Birmingham ...
LONDON, England: Of the 14 main battle tanks and additional artillery support it will send to Ukraine, Britain hopes its ...
Manchester [UK], February 1 (ANI): Manchester United signed Bayern Munich midfielder Marcel Sabitzer on loan till the season end in ...
Arseniy Kotov's stance on the Ukraine conflict ?caused harm? to the brand, it was claimedA British publisher has allegedly refused ...
Moscow police told the media the woman paraded a calf while chanting ?animals are not food?A court in Moscow has ...
Golaghat (Assam) [India], February 1 (ANI): A G20 delegation on Wednesday visited the Kaziranga National Park in Assam's Golaghat district, ...