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Wednesday, April 24, 2024

Man Utd’s owners consider selling Premier League club

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Old Trafford: Manchester United’s American owners, the Glazer family, is considering selling the club as they announced that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club.

The day it was also confirmed that Cristiano Ronaldo had left the club by mutual consent, a statement from United on Tuesday night revealed plans to identify new investment that could lead to a potential sale.

The Americans bought the club for USD 1.34 billion in 2005.

The club said the process led by their American owners will consider all strategic alternatives, “including new investment into the club, a sale, or other transactions involving the Company.”

It added that “the process 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.”

Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said: “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.”

United, who are fifth in the Premier League, have not won the title since 2013 and have not won a trophy since claiming the Europa League and EFL Cup in 2017.

There have been multiple protests against the Glazers’ ownership in recent years, including one in May 2021 that caused United’s home league match against Liverpool to be postponed, according to BBC.

The club’s statement added: “There can be no assurance that the review being undertaken will result in any transaction involving the Company. Manchester United does not intend to make further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring a formal announcement.

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