manchester united Owners the Glazer family have announced they are prepared to sell the club.
United issued a statement on Tuesday revealing they were “exploring strategic options”, including new investment or a complete sale. The Glazers completed their takeover in 2005, but faced fierce opposition from supporters to their ownership, particularly after their leveraged buy-out saddled the club with a huge amount of debt.
The statement released on Tuesday said: “Manchester United today announced that the Board is commencing a process to explore strategic options for the club.
“The process is designed to enhance the future growth of the club, with the ultimate goal of allowing the club to capitalize on opportunities off the pitch and commercially.
“As part of this process, the Board will consider all strategic options including new investment in the club, sale, or other transaction involving the company.
“This will involve the evaluation of a number of initiatives to strengthen the club, including the redevelopment of the stadium and infrastructure, and the expansion of the club’s commercial operations globally, in the context of enhancing the long-term success of each club’s men, women and Academy teams, and bring benefits to fans and other stakeholders.”
The news comes on the same day Manchester United announced it Cristiano Ronaldo Will leave the club after “mutual agreement” was reached by both sides. Ronaldo’s departure follows last week’s interview with Piers Morgan He criticized the club and its new manager Erik ten Haag for disrespecting him.
British billionaire Jim Ratcliffe, who also made a bid for Chelsea, has said he would be interested in buying United, but in October insisted that the Glazers didn’t want to sell,
The Rhine Group has been named as United’s “exclusive financial advisor” after handling the sale of Chelsea earlier this year.
Avram Glazer and Joel Glazer said as part of the statement released on Tuesday: “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers.
“As we look to continue to build on the club’s history of success, the Board has authorized a thorough assessment of strategic options.
“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximize the significant growth opportunities available to the club today and in the future.
“Throughout this process, we will remain completely focused on serving the best interests of our fans, shareholders and various stakeholders.”