The Glazer family are FINALLY considering putting Manchester United up for sale
In an absolutely staggering day for Manchester United, it looks like the Glazer family could finally be considering selling the club. Parades outside Old Trafford incoming?
The announcement was made in an official statement by the club on Tuesday, 22 November, while most fans had not long finished watching the last World Cup game and were still digesting the news from earlier in the evening.
Should a sale actually go through (we’ll believe it when we see it), it will bring the Glazer‘s ownership of the club to an end after more than 17 years of protests and regression as a once top European team.
You can read the full statement down below, including words from the typically silent Glazers themselves.
The statement detailed how the board of directors are now “commencing a process to explore strategic alternatives for the club… 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.” Yes, you read that right: they might seriously consider selling.
The mere notion of a sale will come as a surprise to virtually every football fan, let alone United supporters, as the US businessmen have long made it clear they had no intention of letting the multi-billion pound sports franchise go.
It was only just over a month ago that long-time suitor Sir Jim Ratcliffe said he was told by the Glazers directly that the club “is not for sale“.
The announcement goes on to explain that they will be examining plans on everything from “stadium and infrastructure redevelopment… expansion of the club’s commercial operations on a global scale”, to the “long-term success of the club’s men’s, women’s and academy teams” before taking next steps.
They also reiterated that the fan base’s interests will also be considered as much as stakeholders. Yeah, we’ve heard that one before…
News of the club being put up for auction was first broken by The Athletic, who reported that the much-maligned American owners had instructed their banks to handle the sale of the sporting giants.
Shortly after that, Sky News revealed that the share price of the club rocketed by 17% following the rumours alone.
Speaking in a rare statement from the two, co-chairmen and directors Joel and Avram Glazer said: “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.
They also insisted that they will “remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
Whether what happens next is a full-blown agreement to sell or simply an invitation to welcome other investors on board, it is thought that the incoming parties will also be American. It also thought that were they to sell, they will be looking for offers between $5-9 billion.
It has also been confirmed that banking giants Rothschild and Co. will be acting as the exclusive financial advisor to the Glazer family shareholders and all those financially invested in the club.
Before fans get too carried away, the club did reiterate that “there can be no assurance that the review being undertaken will result in any transaction involving the Company” and no further comments will be made until an official decision or breakthrough has been made.
This earth-shattering news comes just hours after the Red Devils confirmed the departure of Cristiano Ronaldo by way of mutual agreement — an outcome that seemed significantly more likely than the club being put up for sale.
Manchester United are approaching nearly a decade without a league title and have won few trophies in the years since Sir Alex Ferguson.
Moreover, despite numerous additions to the squad itself down the year, the consensus has long been that the club has seen little investment from its owners — certainly not with their own money, anyway. With that in mind, a done deal or not, this is a momentous day for United fans around the world.
While we don’t expect a decision before the end of the year, Reds may finally be able to put their Glazers Out banners down in the near future.
For all the latest news, events and goings on in Greater Manchester, subscribe to The Manc newsletter HERE.
Featured Image — Manchester United/Andre Zahn