The Glazer family has opened the door on the possibility of selling Manchester United.
The American-based ownership group has ordered banks to explore the sale of the flagship Premier League club after 17 years of stewardship, according to a club announcement.
American businessman Malcolm Glazer took control of the club in 2005 with a £790 million bid. Glazer’s heirs have operated the team since his death in 2014. The family also owns the NFL’s Buccaneers. A statement from the family Tuesday revealed several possible options regarding the club.
“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," it read.
“The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers,” co-chairmen Avram Glazer and Joel Glazer added. “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."
The family has hired the Raine Group, which was previously enlisted by Roman Abramovich to steer the sale of Chelsea FC.
In recent years, Manchester United has been beleaguered by protests and diminished performance. The potential selling of Manchester United comes as the club and soccer star Cristiano Ronaldo officially parted ways earlier Tuesday after months of conflict and friction.
“Cristiano Ronaldo is to leave Manchester United by mutual agreement, with immediate effect,” United said in a statement posted to Twitter. “The club thanks him for his immense contribution across two spells at Old Trafford.”
Prior to his departure, Ronaldo openly criticized the club and stated that he had “no respect” for manager Erik ten Hag. Manchester United has not won a Premier League title since 2012-13, which has led to the dismissal of several of the club’s managers following the retirement of Sir Alex Ferguson.
Man United is the second Big Six club that’s said to be exploring a sale this month after Fenway Sports Group revealed it was entertaining a similar approach with Liverpool.
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