27.7 C
Tuesday, May 30, 2023

BREAKING: Glazer family considering sale of Manchester United after 17 years of ownership

Glazer family has considered the sale of Manchester United after a 17-year reign dominated by fan protests and declining on-pitch performance.

Manchester United fans could finally get their wish and get rid of owners, the Glazer family, with the Americans looking for new investment.

According to Sky News, the family could finally be looking into selling the club, with sources claiming that a statement from them could be imminent.

The report claims that the Tampa Bay Buccaneers owners are ready to announce their plans to look for ‘outside investment into the club.’

Join any of these WhatsApp Groups to receive Prompt Sport News Update on WhatsApp

A statement confirming their intentions could come imminently, one of them said.

The announcement of a review of financial options that could include a sale process would signal an end to years of speculation over whether the Glazers might be persuaded to offload a club which for the past decade has experienced an almost-unmitigated footballing decline.

United has not won the Premier League title since 2013, and has sacked a succession of managers in the aftermath of the retirement of Sir Alex Ferguson.

More recently, the club has become embroiled in a bitter legal fight with Cristiano Ronaldo over an interview in which he questioned United’s ambition and lambasted the Glazers’ approach to owning it.

On Tuesday, United announced that Ronaldo had left “with immediate effect”.

It remains possible the family, which took control of United in 2005 in a £790m deal largely funded by debt, opt not to sell.

A partial sale to new investors, with capital being raised to fund an overdue redevelopment of Old Trafford, is one potential outcome from the process.

The Glazers have acknowledged the need for new infrastructure investment to transform the stadium into a genuinely world-class venue, while substantial funds are also required to enable the men’s team to compete once more at the top of the European game.

If United was sold outright, it would be the latest top-flight club to change hands, after Roman Abramovich agreed a £2.5bn sale of Chelsea to a consortium led by the American businessman Todd Boehly earlier this year.

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.

Contact us: intelregion.com@gmail.com

📡Our Social Media Channels:


- Advertisement -