Manchester United are up for sale – the club announced last night that they are open to considering new investment.
After 17 years under the controversial ownership of the Glazer family, they could finally be following Cristiano Ronaldo out the door.
Their tenure has been dominated by protests and decline – with United last winning the Premier League in 2013.
Now, for the first time since their leveraged buyout of the club back in 2005, the American owners have provided the biggest indication so far that they are willing to sell up.
United will explore options to “enhance future growth” to ensure success on the pitch and commercially.
The club said: “The board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.
“This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club and its stakeholders.”
The news led to joyful celebrations from the United faithful, with reports of fireworks being set off near Old Trafford.
The Glazers were vague in terms of their specific intent but insisted they will evaluate all options and remain focused on serving the fans.
Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said: “As we seek to continue building on the club’s history of success, the board has authorized a thorough evaluation of strategic alternatives.
“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.
“Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
British billionaire and United fan Sir Jim Ratcliffe spoke as recently as last month on the prospect of buying the club.
He said: “They don’t want to sell it. It’s owned by the six children of the father and they don’t want to sell it.
“If it had been for sale in the summer then, yes, we would have probably had a go following on from the Chelsea thing, but we can’t sit around hoping that one day Manchester United will become available.”
Well now he no longer has to wait, and if he’s serious, then negotiations could start soon.
Despite this, according to Sky Sports’ Kaveh Solhekol, if the club is sold it’s like to be to US investors.
New York-based The Raine Group will act as United’s exclusive financial advisor. They were the company that helped market Chelsea who were sold earlier this year.
The World Cup in Qatar might be grabbing the headlines, but with United being effectively put up for sale, along with Ronaldo’s departure, all eyes are on Old Trafford.
