Manchester United sale: Glazer family assess options to sell Old Trafford club ‘to enhance future growth’

Manchester United could be put up for sale as the Glazer family prepares to examine potential sources of outside investment. Among the options for the American owners are a full or partial sale, or a strategic partnership to infuse the club with more funding, the team announced on Tuesday. American businessman Malcolm Glazer bought what is arguably one of the most famous clubs on the planet in 2005 for an approximate value of £800m.

The team released the following statement:

The process is designed to enhance the future growth of the club, with the ultimate aim of positioning the club to take advantage of opportunities both on the pitch and commercially. As part of this process, the board will consider all strategic alternatives, including new investment in the club, sale or other transactions involving the business. This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and the expansion of the club’s commercial operations globally, each in the context of enhancing long-term success. term of the club’s men’s, women’s and academy teams. teams and bring benefits to fans and other stakeholders.

“Manchester United’s strength is built on the passion and loyalty of our global community of 1.1 billion fans and followers. As we seek to continue to build on the club’s history of success, the Board has authorized a thorough assessment of strategic alternatives. We will assess 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.” executive co-chairmen and directors Avram Glazer and Joel Glazer in the team statement. “Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders and various stakeholders.”

The news comes a few hours later The club terminated Cristiano Ronaldo’s contract following his explosive tell-all interview with Piers Morgan where the 37-year-old star, who is part of the Portuguese national team for the 2022 FIFA World Cup in Qatar, aired his grievances and damaged his legacy with the Reds Devils in the process so he could force a January exit. He got his wish days before Portugal’s first group stage game. In this interview, they criticized the facilities at the Old Trafford club and took aim at the American owners accusing them of not caring about the club.

“The Glazers, they don’t care about the club. I mean, professional sport, as you know, Manchester is a marketing club,” he said. “They’ll get marketing money – the sport is, they really don’t care, in my opinion. The fans, they’re always right. I think the fans should know the truth, should know that the players want the best for the club. I want the best for the club. That’s why I came to Manchester United.”

The news also comes weeks after Fenway Sports Group reported interest in selling United rivals Liverpool.

As for the Glazers, their 17-year spell as owners was mired in fan protests, particularly during their bid to emerge from the European Super League, which the club pulled out of a few days later. The Glazers enjoyed success as owners, with five Premier League titles and one Champions League title – all under Sir Alex Ferguson – during their reign. The club have not won the Premier League since 2013 and have failed to recapture some of the magic of the Ferguson era.

CBS Sports will continue to update this breaking news as needed.

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