By 
Manchester United announced on Tuesday that it would begin an investigation into strategic alternatives, such as a new investment or a potential sale, 17 years after the American Glazer family purchased the English Premier League soccer club.
According to the club, the Glazer family is working with financial advisers on the process, which could result in a partial sale of the Old Trafford club or investments such as stadium and infrastructure redevelopment.
Manchester United fans have been calling for a change in ownership, and the Glazers have come under fire for failing to win a trophy in the last five years. Their most recent trophies were the Europa League and League Cup in 2017.
“As we seek to continue building on the club’s history of success, the board has authorized a thorough evaluation of strategic alternatives,” Avram Glazer and Joel Glazer, executive co-chairmen and directors of United, said in the statement.
Club statement on a process to explore strategic options for Manchester United.#MUFC
— Manchester United (@ManUtd) November 22, 2022
“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,” the statement said.
The owners are under pressure because United is currently fifth in the Premier League, which has been suspended due to the ongoing Qatar World Cup.
Manchester United’s stock increased by up to 20% after Sky News first reported on the sale process, valuing the club at $2.6 billion.
At the end of Tuesday’s trading in the United States, the company was valued at $2.5 billion. In 2018, it had a market capitalisation of $4.3 billion at its peak as a public company.
Comments