The Glazer family confirms Manchester United is up for sale

The Glazer family confirms Manchester United is up for sale

Manchester United's owners, the Glazers, have put the club up for sale, a statement issued on Tuesday night said. The Glazers became majority owners of the club in 2005 against the backdrop of fan unrest at the financing of the takeover.

The Glazer family have remained almost universally unpopular in the 17 years since, with mass protests taking place at the time of the takeover, and gain in 2010, 2021 and this year.

The statement said: "Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club.

"The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially.

"As part of this process, 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’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders."

Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said: “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. 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.”

United's on-field success was not immediately derailed by the 2005 takeover but Sir Alex Ferguson's departure in 2013 exposed United's shortcomings off the pitch.

United have not won the Premier League for nine years and have only hoisted three major trophies since Ferguson left the club.
Next Post Previous Post
No Comment
Add Comment
comment url