Manchester United have confirmed that their owners are considering selling the club.
Man United confirmed this in a statement released on Tuesday night, shared via their Twitter handle.
It said: “Manchester United plc, one of the world’s most successful and historic sports clubs, today (Tuesday) announces 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, and the ultimate goal is to position the club to take advantage of opportunities both on the pitch and commercially.
“As part of this process, the Board will examine all strategic alternatives, including new investments in the club, sales or other transactions involving the company. This will include an assessment 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, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams. bringing benefits to the teams, and to the fans and other stakeholders.”
Man United Co-Chairmen and Chief Executives Avram Glazer and Joel Glazer said, “Manchester United’s strength is based on the passion and loyalty of our global community of 1.1 billion fans and supporters. As we look to continue to build on the club’s history of success, The Board has authorized a thorough assessment of strategic alternatives. We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the Club’s significant growth opportunities today and into the future. Throughout this process, we will focus on serving the best interests of our fans, shareholders and various stakeholders.” .
Raine Group is acting as the Company’s exclusive financial advisor and Latham & Watkins LLP is the Company’s legal advisor.
Rothschild and Co. He is serving as the exclusive financial advisor to the Glazer family shareholders.
Man United added: “There can be no assurance that the ongoing review will involve a transaction involving the company. Manchester United does not intend to make any further announcements regarding the review until the Board approves a specific transaction or other action that requires a formal announcement.
The US-based Glazer family have owned United for 17 years, but their reign has been marred by declining performances on the pitch and repeated fan protests.