Manchester United: Glazer family owners consider selling Premier League club

Avram and Joel Glazer
There have been regular protests at Old Trafford over the Glazer family’s ownership of the club

Manchester United’s owners, the Glazer family, say they are considering selling the club as they are “exploring strategic alternatives”.

This comes after years of outcry from fans over their ownership.

A statement issued by the club said that the board “will consider all strategic alternatives, including new investment in the club, sale, or other transactions involving the company.”

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She added that the process “will include an assessment of several initiatives to strengthen the club, including the redevelopment of the stadium and infrastructure, and the expansion of the club’s commercial operations on a global scale” to enhance “the long-term success of the club’s men’s, women’s and academy teams, and achieve benefits for fans and other stakeholders.”

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In 2012, Glazer sold 10% of their holdings Through the list of shares, we sold more shares in the following years.

“In our quest to continue building on the club’s history of success, the Board has authorized a comprehensive assessment of strategic alternatives,” said CEOs and Directors Avram Glazer and Joel Glazer.

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“We will evaluate all options to ensure that we are providing the best service to our fans and that Manchester United maximizes 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.”

The Glazer family has owned the NFL Tampa Bay Buccaneers since 1995 and Avram Glazer bought a team in the new UAE Twenty20 cricket league in 2021.

Joel and Avram took charge of the day-to-day running of United after their father Malcolm suffered a stroke in April 2006. The billionaire Malcolm died at the age of 85 in 2014.

American investment firm Raine Group, who handled the £4.25 billion sale of Chelsea in May, He acts as the exclusive financial advisor to United.

Statement from the clubexternal link He added, “There can be no assurance that a review being conducted will lead to any transaction involving the company.

“Manchester United does not intend to make further announcements regarding the review unless the Board of Directors has approved a specific transaction or other action that requires a formal announcement.”

United, who are fifth in the Premier League, haven’t won a title since 2013 and haven’t won a trophy since winning the Europa League and UEFA Cup in 2017.

There have been multiple protests against Glazers ownership in recent years, Including one in May 2021 This caused United’s league match against Liverpool to be postponed.

Thousands of supporters marched to Old Trafford in protest before the game itself this season, in August.

United were part of a failed Europa League project that quickly collapsed in April 2021. Joel Glazer Co-Chairman Manchester United I apologize later for the disturbances caused.

He has since attended fan forums in the wake of fan unrest and has vowed to make the posts available to the masses.

According to Transfermarkt,external link United’s net spending is €1.36bn (£1.18bn) under Glazer.

Portugal captain Cristiano Ronaldo, who left Manchester United immediately on Tuesday, Swipe club ownership In a controversial interview last week the Glazers said they “don’t care about the club” sportingly.

The move to sell United comes amid saying Liverpool chairman Tom Werner Fenway Sports Group was ‘exploring a sale’ From Anfield Club.

Bloomberg reportexternal link In August 2022 the Glazers said they were willing to sell a minority stake in the club.

British billionaire Sir Jim Ratcliffe He said he would be interested in buying the club before he stated In October, the Glazers told him they did not want to sell.

If Glazers left, most fans would welcome him – ANALYSIS

BBC Sport football reporter Simon Stone

There has never been any real dispute that the Glazers see Manchester United as a financial investment.

To a greater or lesser degree – co-presidents Joel and Avram are the most invested – they care about the football team but the main goal is to make money, which they succeed at.

To that end, some issues have conspired to make the Glazers think now is the right time to test the waters with regard to an exit.

Firstly, the plan for the European Premier League has been terminated. While Barcelona, ​​Juventus and Real Madrid insist it would be obtained through the courts, in its original form, it was done – and with it, the riches that could have come from it.

Subsequently, Saudi Arabia’s support for Newcastle created more competition within the English Premier League, and eventually in Europe.

Adding to the huge investment required in the refurbishment of Old Trafford – and improvements to the club’s Carrington training ground – running a competitive United would, in the short term, prove too costly.

To that end, Chelsea were sold for £4.25 billion in the summer looking very attractive.

The Glazers haven’t been famous owners since the day they bought United in 2005.

If they were to leave, most fans would welcome that. However, given the potential sale price, their dream property may prove unrealistic.

And even if boyhood fan Sir Jim Ratcliffe follows through with his summer plan to try and buy the club, he is unlikely to be the only interested party. In the short term, the future at Old Trafford may bring more uncertainty.

The back page of the Manchester Evening News
The back page of the Manchester Evening News

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