Manchester United’s owners the Glazer family say they are considering selling the club as they “search for strategic alternatives”.
The Americans bought the Old Trafford outfit in 2005 for £790m ($1.34bn).
This comes after years of fan protests against his ownership.
A statement from the club said the board would “consider all strategic alternatives, including new investment in the club, sale, or other transactions involving the company”.
It added that the process would include “a review of a number of measures to strengthen the club, including the rehabilitation of the stadium and infrastructure, and the expansion of the club’s commercial operations globally” to ensure the long-term success of the club’s men’s, women’s and women’s teams. can be extended. and benefiting academy teams, and fans and other stakeholders.”
In 2012, the Glazers sold 10% of their holdings through a stock listing and have sold more shares in subsequent years.
“As we look to continue building on the club’s history of success, the board has authorized a thorough examination of strategic alternatives,” said executive co-chairmen and directors Avram Glazer and Joel Glazer.
“We will examine 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 focused on serving the best interests of our fans, shareholders and various stakeholders.”
The Glazer family has owned NFL side Tampa Bay Buccaneers since 1995, and Avram Glazer bought a team in the United Arab Emirates’ new T20 cricket league in 2021.
After their father Malcolm suffered a stroke in April 2006, Joel and Abram took over the day-to-day running of United. Billionaire Malcolm died in 2014 at the age of 85.
US investment firm Rhine Group, which handled the £4.25bn sale of Chelsea in May, is acting as United’s exclusive financial adviser.
The club’s statement added: “There can be no assurance that the review being conducted will result in any transactions involving the company.
“Manchester United does not intend to make any further announcements in relation to this review unless the board approves a specific transaction or other procedure that requires a formal announcement.”
United, who are fifth in the Premier League, have not won the title since 2013 and have not won a trophy since winning the Europa League and EFL Cup in 2017.
There have been a number of protests against the Glazers’ ownership in recent years, including one in May 2021 which caused United’s home league match against Liverpool to be postponed.
This season, thousands of supporters marched to Old Trafford in protest ahead of the same match in August.
United were part of a failed European Super League plan that quickly collapsed in April 2021. Manchester United co-chairman Joel Glazer later apologized for the unrest.
He then attended fan forums in the wake of supporter unrest and promised to make shares available to the club’s followers.
According to Transfermarkt, United have a net spend of 1.36bn euros (£1.18bn) on transfers under the Glazers, only Manchester City’s figure is higher in that period.
Portugal captain Cristiano Ronaldo, who left Manchester United with immediate effect on Tuesday, criticized the club’s ownership in a controversial interview last week, saying the Glazer family “doesn’t care about the club” on the sporting side.
The move to sell United comes as Liverpool chairman Tom Werner said Fenway Sports Group was “exploring a sale” of the Anfield club.
In August 2022, a Bloomberg report stated that the Glazer family was ready to sell a minority stake in the club.
British billionaire Sir Jim Ratcliffe said he would be interested in buying United before he said in October that the Glazer family had told him they did not want to sell.
Manchester United share price continues to rise to $16 in post close of day deals #MUFC pic.twitter.com/EWaK0ksU15
— Kieran Maguire (@KieranMaguire) November 22, 2022
