News broke on Tuesday that Manchester United have instructed banking partners to assist in the potential sale of the club, with the Glazer family possibly looking for other majority investors as well as potentially an outright sale of their shares.
Club statement on a process to explore strategic options for Manchester United.#MUFC
— Manchester United (@ManUtd) November 22, 2022
The club released a statement informing the public that the club is exploring a number of options of “strategic alternatives” for the club, which could involved the sale of the club.
“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.”
The Glazers have owned the club since conducting a hostile takeover in 2005, and fans in Manchester and around the world have protested their ownership in various ways since then. Protests intensified in 2021 following the failed attempt by the Glazers and other club owners to breakaway and form a European Super League.
They had made some efforts to try and appease fans, including the establishment of a supporters’ trust, but protests have continued. Financially there also seems to be little incentive to hold on for greater value, seeing as the Super League efforts have stalled and the pandemic has already made the business slightly more expensive for them.
Here was the statement from the Glazers included in the release:
“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.”
This news comes on the same day that Cristiano Ronaldo’s contract is terminated, making Manchester United a main character on the timeline once again despite a whole World Cup happening. Now as the search begins for potential bidders, rumors continue about the club’s hopes of signing young England superstar Jude Bellingham next summer. Expect news of ownership bids and consortiums forming in the coming weeks as search for investment intensifies.
The United news starts coming, and it don’t stop coming.