According to finance expert Kieran Maguire, Manchester United is effectively for sale; the club’s share price rose 17% immediately after the revelation, adding over £336.4m ($400m) to the club’s market capitalisation.
The Glazer family is willing to sell Manchester United.
After a 17-year rule marked by fan protests and deteriorating on-field performance, Manchester United’s American owners are eager to listen to bids for the club.
If the club – valued at around £5bn – is sold, it is expected to be purchased by US investors.
A Manchester United statement confirmed plans to identify “strategic alternatives” and said the process will consider a number of options “including new investment into the club, a sale, or other transactions involving the company”.
“The strength of Manchester United hinges on the passion and commitment of our global community of 1.1 billion fans and followers,” said executive co-chairmen and directors Avram Glazer and Joel Glazer. The Board of Directors has authorized a thorough review of strategic alternatives in order to continue building on the club’s history of success.
“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximises 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 Raine Group, which facilitated the sale of Chelsea over the summer, is acting as United’s exclusive financial adviser, with Rothschild and Co performing the same role to the Glazer family shareholders.
The announcement of a review of financial options that could include a sale process would signal an end to years of speculation over whether the Glazers might be persuaded to offload a club which for the past decade have experienced an almost-unmitigated footballing decline.
United have not won the Premier League title since 2013, and have sacked a succession of managers in the aftermath of the retirement of Sir Alex Ferguson.