The Glazer family is open to selling Manchester United after 17 years dominated by fan protests and their declining on-field performance. Identifying “strategic alternatives” is being planned, according to a statement from Manchester United. The process will take a variety of options into account, including “new investment into the club, a sale, or other transactions involving the company.” According to Kieran Maguire, a football finance expert, Manchester United’s share price increased by 17 percent as a result, raising the club’s market valuation by about $400 million (£336.4 million).
“Manchester United’s strength comes from the 1.1 billion fans and supporters that make up our global community. As we work to continue building on the club’s great history, the Board has authorized a thorough evaluation of our strategic choices,” the Glazer family’s comments regarding Manchester United. “We will carefully explore all of our options to make sure we can best serve our supporters and Manchester United can benefit from the tremendous growth opportunities that are today and in the future access to the club. Throughout this process, we will continue to give 100 percent of our attention to protecting the interests of our shareholders, supporters, and other stakeholders.”
The Raine Group, who made it possible forto be sold during the summer, is serving as United’s only financial advisor, while Rothschild and Co. are serving as that advisor to the Glazer family shareholders. The declaration of an examination of financial options, which might involve a selling process, would put an end to years of rumors about whether the Glazers might be convinced to sell a team that has suffered an almost continuous slide in football over the previous ten years. Since Sir Alex Ferguson’s retirement, United has not won the Premier League championship and has fired a string of managers.
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