Manchester United owners to explore sale of club as Glazers look for new investment
22 November 2022, 20:23 | Updated: 22 November 2022, 22:12
Manchester United could be sold after 17 years under the ownership of the Glazer family, who are looking at new sources of investment for the club.
Listen to this article
Loading audio...
The family is beginning to "explore strategic alternatives" in order to "enhance the club's future growth", Manchester United confirmed in a statement on Tuesday night.
Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said: "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 authorised a thorough evaluation of strategic alternatives.
"We will evaluate all options to ensure that we best serve our fans and that Manchester United maximises 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."
It comes after sources told Sky that investment bankers were being instructed to advise on the process, which is likely to include a full or partial sale of the club, or strategic partnership with third parties.
One source reportedly said that a statement confirming their intentions was imminent.
The announcement could prompt a bidding war for the Premier League club, which is one of the world's most valuable and recognised sports teams.
The club has been under the current ownership 17 years, but for the past nine years has seen protests and a decline in performances on the pitch.
Read more: Cristiano Ronaldo to leave Manchester United with immediate effect after bombshell interview
It comes just hours after Manchester United announced that Cristiano Ronaldo would leave Old Trafford by mutual agreement, with immediate effect, he criticised the club in an explosive TV interview.
A statement on the club website said: "The club thanks him [Ronaldo] for his immense contribution across two spells at Old Trafford, scoring 145 goals in 346 appearances, and wishes him and his family well for the future.
"Everyone at Manchester United remains focused on continuing the team’s progress under Erik ten Hag and working together to deliver success on the pitch."
The striker is with Portugal at the World Cup in Qatar ahead of their opening Group H game against Ghana on Thursday.
A statement from the striker said: "Following conversations with Manchester United we have mutually agreed to end our contract early."
"I love Manchester United and I love the fans, that will never ever change. However, it feels like the right time for me to seek a new challenge.
"I wish the team every success for the remainder of the season and for the future."
Ronaldo came under intense scrutiny after an explosive interview, in which he criticised the club and the manager Erik Ten Hag.
