Manchester United: the Glazer family announce their intention to sell the club

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Only a few hours after the announcement of the official departure of Cristiano Ronaldo, a new media bomb came to torment the very hot news of Manchester United. The Glazer family have officially announced their intention to sell the Red Devils. Indeed, the Americans, owners since, will examine potential sources of outside investment which could include a full-fledged auction of the Mancunian club. Sources said on Tuesday that investment bankers had been commissioned by the owners of Manchester United to advise and recommend on the process, including a full or partial sale, or strategic partnership with third parties. Manchester United’s stock price immediately rose 17% as a result, adding nearly $400 million to the club’s market cap, according to football economics expert Kieran Maguire. The announcement of this sale marks the end of several years of speculation on the departure of the Glazers, while the club has experienced a real footballing decline for a decade.

“The process is designed to enhance the future growth of the club, with the ultimate aim of positioning the club to take advantage of opportunities both on the pitch and commercially. As we seek to continue to build on the club’s history of success, the board has authorized a thorough assessment of strategic alternatives. We will assess all options to ensure that we best serve our fans and that Manchester United maximize the significant growth opportunities available to the club now and in the future. Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders and various stakeholders.”said executive co-chairmen and directors Avram Glazer and Joel Glazer, in an official statement published on the Man United website.

Jim Ratcliffe in pole position?

A Bloomberg report in August 2022 said the Glazer family was willing to sell a minority stake in the club. The British billionaire Sir Jim Ratcliffe had then inquired, showing great interest in buying the club before declaring in October that the Glazers categorically refused any sale. Several intense demonstrations subsequently took place from groups of supporters. In May 2021, protests led to the postponement of United’s home league game against Liverpool. Thousands of supporters marched through Old Trafford in protest ahead of the same game this season in August. The Red Devils were part of the failed European Super League project that quickly collapsed in April 2021. Manchester United co-chairman Joel Glazer later apologized for the trouble caused.

Recent reports have speculated that it would take between £5bn and £9bn to persuade the Glazers to sell United, who are finding it increasingly difficult to compete with other big clubs on transfer windows. The news comes just a fortnight after it was announced Fenway Sports Group (FSG), the US owners of Liverpool, had put the Merseyside club up for sale. In the negotiations, the Glazer family surrounded themselves with The Raine Group as the company’s exclusive financial advisor and Latham & Watkins LLP as the company’s legal advisor.

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