If the Glazer family sells Manchester United, the American-based ownership group will not be selling the team at a bargain price.
ESPN reported that the English soccer giant’s owners are only taking offers that would make the club the most expensive sports team ever. According to Forbes, Manchester United is worth $4.59 billion.
However, the Glazers are reportedly hoping to lure offers for more than $7.25 billion. Earlier this year, fellow Premier League side Chelsea summoned $3.02 billion while the NFL’s Broncos sold for $4.65 billion.
The news comes after the ownership group released a statement on Tuesday, saying that it would consider “all strategic alternatives” that included a possible outside investment or sale.
“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.”
While the Glazers issued Tuesday’s statement, the group intentionally made the announcement “vague” to not limit the ownership group’s negotiating position, per ESPN. American businessman Malcolm Glazer took jurisdiction of the club in 2005 with a £790 ($960) million bid.
Glazer is still directly involved in the routine operations of the franchise. However, his siblings reportedly believe that it is the right time to sell the club. The family hired the Raine Group, steering the sale of Chelsea FC to Dodgers owner Todd Boehly and his board, as its “exclusive financial advisor.”
However, the group has not stated a hard deadline for a sale.
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For more Manchester United coverage, go to United Transfer Room.
