Manchester United has been put up for sale after the Glazer family revealed that they are looking for “strategic alternatives to enhance the club’s growth.”
On Tuesday night, the Old Trafford club stated that all options, including “new investment into the club, a sale, or other transactions involving the firm,” were being considered.
While Rothschild and Co. will serve as the Glazer family shareholders’ financial advisors, The Raine Group, who oversaw the sale of Chelsea earlier this year, is the club’s financial advisor throughout the process.
Glazers family’s official statement
Joel and Avram Glazer, the co-chairmen of Manchester United, released a statement on Tuesday night that read in part, “The strength of Manchester United rests on the passion and dedication of our global community of 1.1 billion fans and followers.”
“The board has authorized a thorough assessment of strategic alternatives as we work to maintain the club’s successful track record.”
“Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders,” the statement said.
“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.”
BREAKING ?: The Glazer family ARE open to selling Manchester United.
United have released a statement revealing they are "commencing a process to explore strategic alternatives for the club." ⤵️ pic.twitter.com/jF7XC5lXZ4
— Sky Sports News (@SkySportsNews) November 22, 2022
Manchester United’s official statement
A club statement read: “Manchester United, one of the most successful and historic sports clubs in the world, announces today that the company’s board of directors is commencing a process to explore strategic alternatives for the club.”
“The process is intended to accelerate the club’s future development, with the ultimate aim of placing the club to take advantage of opportunities on and off the field.”
“The board will consider all strategic options during this process, including new club investments, sales, and other business dealings.”
“To improve the long-term success of the club’s men’s, women’s, and academy teams and to benefit fans and other stakeholders, this will include an assessment of several initiatives to strengthen the club, such as stadium and infrastructure redevelopment and expansion of the club’s commercial operations on a global scale.”
Club statement on a process to explore strategic options for Manchester United.#MUFC
— Manchester United (@ManUtd) November 22, 2022
Good news for Man United fans
Red Devils supporters, who have spent 17 years protesting and raging against the wildly unpopular Tampa Bay family, will be ecstatic at the news.
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 exact match this season, thousands of fans marched to Old Trafford in August.
The Glazers’ view of Manchester United as an investment has never been contested.
United has been unable to compete with local rivals Manchester City and Liverpool and has been left behind in industry standards involving club infrastructure and facilities.
The Glazers have continued to pay themselves rewards in the tens of millions of dollars every year despite their inability to contend for the biggest trophies.
The Glazers are thought to have cost the club more than £2 billion when combined with the interest payments the leveraged purchase forced the club to make.
The majority of fans would be happy to see them go.
Fenway Sports Group put Liverpool up for sale earlier this month, which might have opened the door for a Glazer departure.
English football now finds itself in an unprecedented historical moment, simultaneously with its two most decorated clubs on the market.