Manchester United fans protested against the Glazers. Image: Robbie Jay Barratt/GettyImages.

Manchester United fans protested against the Glazers. Image: Robbie Jay Barratt/GettyImages.

Glazers put Manchester United up for sale

The Glazer family has announced their intention to sell Manchester United and has instructed banks to handle the sale.

Manchester United fans protested against the Glazers. Image: Robbie Jay Barratt/GettyImages.

Manchester United fans protested against the Glazers. Image: Robbie Jay Barratt/GettyImages.

The Glazer family has officially announced their intention to sell Manchester United and has instructed banks to handle the sale of the iconic football club.

The Glazers bought Manchester United in 2005, but have been widely unpopular with the club’s supporters throughout their 17-year ownership. This is mainly because of the Manchester United have been hamstrung by the Glazer family’s ownership model, which has seen an estimated sum of up to £1.6bn taken out of the club. 

On Tuesday night, rumours were rife that an announcement on the future ownership of Manchester United was imminent and much to the delight of the club’s staunch supporters, an official statement was released. The gist of it was that the Glazers are open to offers for a full or partial sale, or strategic partnerships with third parties.

STATEMENT ON SALE OF MANCHESTER UNITED

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.

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.

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

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.

Should the potential sale materialise, it draw the curtain on the Glazers’ tumultuous tenure in control of the club.

Joel Glazer Avram-Glazer Man Utd
Manchester United owners Joel and Abram Glazer. Image: Getty Images.

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RONALDO SENT PACKING

Meanwhile, Manchester United have terminated star centre forward, Cristiano Ronaldo’s contract after his controversial interview in which he discredits the club and first team manager Erik ten Hag.

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Although the official line is that the club and Ronaldo parted ways by mutual agreement, the Portuguese player was effectively sacked by Manchester United at the recommendation of Ten Hag.

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Throughout his two stints at the club, the 37-year-old Ronaldo scored 145 goals and made 63 assists in 343 appearances for the Red Devils. He won three Premier League titles, one Champions League, a FA Cup, two League Cups, one Fifa Club World Cup and one Community Shield.

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