The Glazer family are reportedly ‘exploring selling’ Manchester United and the owner’s stance is set to be ‘formally announced’ in the coming days.
The Glazers first invested in United in 2003 and they became the club’s majority shareholders in 2005.
The value of the club at that time is understood to have been around £790m.
Their relationship with the club’s supporters has declined in recent years. A lot of investment has gone into signing new players, but very little has been done to modernise Old Trafford or the club’s training ground.
The Glazer family were also heavily involved in the planned formation of the European Super League.
The introduction of this competition was called off following significant opposition from fans, the media and ex-players.
The United owner’s involvement with the ESL led to more frequent fan protests with the majority of the club’s supporters keen to see an end to the Glazer regime.
They may be about to get their wish as Sky News are reporting that the Glazer family are ‘preparing to formally announce its intention to examine potential sources of outside investment’.
It is suggested that one option for them is to push for a ‘full-blown auction’.
Sky News have been informed that investment bankers have been asked to ‘advise the owners on the process’.
The possibilities the Glazers have is a ‘full or partial sale, or a strategic partnership with third parties’.
The report adds that a statement from the Glazer family ‘could come imminently’ as they intend to ‘confirm their intentions’.
The report later states: ‘United’s valuation in a sale would inevitably exceed the roughly $2.15bn market capitalisation implied by its share price during Tuesday’s trading session on the New York Stock Exchange.
‘Reports in recent months have speculated that any transaction would need to value the club at anywhere between £5bn and £9bn to persuade the owners to sell.’
Sir Jim Ratcliffe will naturally be discussed as a potential buyer. Back in August, it was confirmed by his spokesperson that he is interested in buying Man Utd from the Glazers.
“If something like this was possible, we would be interested in talking with a view to long-term ownership,” Ratcliffe’s spokesperson told The Times.
“This is not about the money that has been spent or not spent. Jim is looking at what can be done now and, knowing how important the club is to the city, it feels like the time is right for a reset.”
It is a busy news day at United as hours before this report emerged, it was confirmed that Cristiano Ronaldo’s contract has been terminated by mutual consent.
This comes after the 37-year-old burned his bridges at Man Utd after firing shots at Erik ten Hag, the Glazers, Ralf Rangnick, Gary Neville and Wayne Rooney during an interview with Piers Morgan.
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