11/22/2022
The Glazer family, who control Manchester United, has stated that they are looking into selling the organization while they "explore strategic alternatives."
For £790 million ($1.34 billion), the Americans acquired the Old Trafford team in 2005.
After years of fan protests against their ownership, it finally happened.
The board would "examine all strategic alternatives, including new investment into the club, a sale, or other transactions involving the firm," according to a statement from the club.
The Glazers listed 10% of their holding on the stock market in 2012, and they subsequently sold more shares.
Executive co-chairmen and directors Avram and Joel Glazer said, "As we want to continue constructing the club's legacy of success, the board has authorized a thorough study of strategic alternatives.
"We will weigh all of our alternatives to make sure that we best serve our supporters and that Manchester United takes full advantage of the huge growth potential currently and in the future available to the club. We will remain entirely committed to looking out for the interests of our supporters, stockholders, and other stakeholders throughout this process."
United's exclusive financial advisor is American investment firm Raine Group, which oversaw Chelsea's £4.25 billion sale in May.
"There can be no promise that the review being performed will result in any sale involving the company," the club statement continued.
Manchester United does not intend to release any additional information about the review until after the board has given its approval to a particular transaction or another course of action that calls for a public statement."
BBC Sport