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NewsRescue
The Glazer family, who own Manchester United, have announced they are open to selling the club.
The Glazers completed their takeover in 2005, but have faced fierce opposition to their ownership from supporters, particularly for saddling the club with huge amounts of debt following their leveraged buyout
The Glazers using Manchester United’s website issued a statement on Tuesday night November 22, to reveal they are “exploring strategic alternatives,” including new investment or a full sale. .
The statement released Tuesday read: “Manchester United announces today that the board is commencing a process to explore strategic alternatives for the club.
“The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially.
“As part of this process, the board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company.
“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.”
Avram Glazer and Joel Glazer said as part of the statement issued on Tuesday: “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.”
The news came just hours after Manchester United announced that Cristiano Ronaldo would leave the club after a “mutual agreement” was reached by the two parties.
