Manchester looks set to be sold after 17 years under the ownership of American businessmen the Glazers.
The Glazer family in a statement said that they were ready to listen to offers of investment into Manchester United which could finally bring an end to their 17-year reign.
“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 news was broken earlier by Sky News, who said that the Glazer family is preparing to formally announce its intention to examine potential sources of outside investment that could include a full-blown auction of the football club.
Sky say that investment bankers were being instructed by Manchester United’s owners to advise on the process, which is likely to include a full or partial sale, or strategic partnership with third parties.
The Glazers have hired Raine Group as financial advisors.
Raine oversaw the Chelsea sale and have plenty of groups on file who wouldwant to invest in, or buy, a big Premier League club like Man Utd
