In a statement, the Glazer family announced it is “evaluating strategic alternatives” for Manchester United, possibly ending their 17-year ownership at Old Trafford.
A statement from United on Tuesday night outlined efforts to find a fresh investment that might result in a potential sale on the day it was also reported that Cristiano Ronaldo had left Old Trafford by mutual agreement. The club stated that a range of possibilities, “including additional investment into the club, a sale, or other transactions involving the firm,” will be taken into account during the process run by its American owners.
The Raine Group has been chosen as the only financial advisor. The same group oversaw the sale of Chelsea earlier this year.
“The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers,” said the executive co-chairmen and directors, Avram Glazer and Joel Glazer. 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.”
The Glazer family may anticipate a slew of interested parties because the winning buyer would have the chance to significantly raise the club's value. Currently valued at £3.75 billion, the Red Devils should sell for much more given that Todd Boehly paid £4.25 billion for Chelsea.
It is possible for Old Trafford and the large area surrounding the stadium to undergo development that would turn it into a popular venue like Tottenham Hotspur Stadium. The £1 billion investment by Tottenham comprises a restaurant with a Michelin star, a collection of upscale shops, a Grade II-listed structure, an art gallery, and the biggest club shop in Europe.
Since Malcolm Glazer acquired United in 2005 using a leveraged financial strategy that burdened the team with debt that is now estimated to be worth approximately £500 million, the Glazer family has experienced hostile reception from fans.