Manchester United: Glazer family owners considering selling Premier League club

Avram and Joel Glazer
Protests are frequent at Old Trafford over the Glazer family’s ownership of the club

Manchester United owners, the Glazer family, say they are considering selling the club as they “explore strategic options”.

In 2005, the Americans bought Old Trafford for £790 million ($1.34 billion).

This comes after years of fans protesting their ownership.

A club statement said the board would “consider all strategic options, including new investments in the club, sale or other transactions involving the company”.

It added that the process “will include an assessment of several initiatives to strengthen the club, including the redevelopment of the stadium and infrastructure, and the expansion of the club’s commercial operations globally” to enhance “the long-term success of the club’s men’s and women’s football clubs”. . and Academy teams, and to the benefit of fans and other stakeholders.”

in 2012, Glazer family sells 10% stake It went public with stock and sold more shares over the next few years.

Executive Co-Chairmen and Directors Avram Glazer and Joel Glazer said: “As we seek to continue to build on the Club’s history of success, the Board has authorized a comprehensive review of strategic alternatives.”

“We will evaluate all options to ensure we provide the best possible service to our fans and to ensure that Manchester United maximizes the significant growth opportunities available to the club today and in the future.

“Throughout this process, we will remain focused on serving the best interests of our fans, shareholders and various stakeholders.”

American investment company Raine Group, who handled Chelsea’s £4.25bn sale in May, Acting as exclusive financial advisor to United Airlines.

The club’s statement added: “There can be no assurance that the ongoing review will result in any transaction involving the company.

“United do not intend to make further announcements regarding the review unless and until the board approves specific transactions or other courses of action requiring formal announcements.”

United, who are fifth in the Premier League, haven’t won a title since 2013 and haven’t won a trophy since they won the Europa League and EFL Cup in 2017.

In recent years, there have been numerous protests against the ownership of the Glazer family, including one for May 2021 This led to the postponement of Manchester United’s home game against Liverpool.

In August, thousands of supporters marched to Old Trafford in protest ahead of the same game this season.

United were part of a failed European Super League project that quickly collapsed in April 2021.Manchester United co-chairman Joel Glazer apologize later for the turmoil caused.

Following the uproar among supporters, he took to a fan forum and promised to share with fans.

Portugal captain Cristiano Ronaldo, who left Manchester United immediately on Tuesday, criticism of club ownership In a controversial interview last week, the Glazers “don’t care about the club” when it comes to sport.

Man Utd move comes after Liverpool chairman Tom Werner says Fenway Sports Group is ‘exploring sale’ Anfield club.

Bloomberg Newsexternal link In August 2022, it was stated that the Glazer family was willing to sell a minority stake in the club.

British billionaire Sir Jim Ratcliffe said he would be interested in buying club before he said In October, the Glazer family told him they did not want to sell.

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