by The Glazer family has hired banks to handle the sale of Manchester United.
The Glazers, who took over Manchester United in 2005, on Tuesday announced plans to identify “strategic alternatives” that could lead to a possible sale of the club.
A statement said the process would consider a range of options “including new investments in the club, a sale or other transactions involving the company”.
Raine Group, previously employed by Roman Abramovich on the sale of Chelsea FC, will act as the club’s “exclusive financial advisor” during the process.
Rothschild and Co. now acts as the exclusive financial advisor to the Glazer family shareholders.
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The statement added: “As part of this process, the board will consider any strategic alternatives including new investment in the club, a sale or any other transaction involving the company.
“This will include an assessment of several initiatives to strengthen the club, including the refurbishment of stadiums and infrastructure and the expansion of the club’s commercial activities on a global scale, all linked to increasing the long-term success of the men’s, women’s and football teams Clubs Academy teams and benefits for fans and other stakeholders.”
Manchester United executive vice-chairmen and directors Avram Glazer and Joel Glazer said in the statement that they will “assess all options to ensure we serve our fans best and that Manchester United maximizes the significant growth opportunities available to the club.” available today and in the future are the future”.
“Throughout this process, we will be fully focused on serving the best interests of our fans, shareholders and various stakeholders,” they added.
US sports magnate Malcolm Glazer first gained control of Manchester United in 2005 with a £790m takeover bid.
However, her 17-year tenure as head of the Premier League club was marred by fan protests and flagging performance.
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United have not won the Premier League title since 2013 and have struggled to compete with the likes of Manchester City and Liverpool since Sir Alex Ferguson’s retirement.
The club’s Premier League game against Liverpool at Old Trafford in May last year was postponed amid an organized protest by United fans against the owners.
And thousands of fans marched to Old Trafford in protest ahead of the same game this season in August.
Meanwhile, on Monday, the club announced that Cristiano Ronaldo was leaving Manchester United with immediate effect.
The decision follows a controversial interview in which Ronaldo criticized the club and said he had “no respect” for manager Erik ten Hag. Ronaldo also criticized the Glazers.
Both parties said Ronaldo’s exit, in which no money changed hands, was “mutually agreed”.
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(Photo: Getty Images)
