Manchester United said in a statement that the club might be sold as the Glazers “consider all strategic alternatives.”
Fans of Manchester United, who have questioned the present owners’ dedication to the club’s progress and staged repeated demonstrations at Old Trafford, will appreciate the news.
There’s no doubt that the Red Devils have fallen behind their rivals in recent years, and Cristiano Ronaldo, who was released on Tuesday, said that he hadn’t seen any improvements to the club’s facilities since he left in 2009.
It looks like that might finally be about to change, though.
In a statement, Manchester United plc said, “Today, the Company’s Board of Directors is starting a process to look into strategic options for the club.”
“The process is meant to help the club grow in the future, and the end goal is to put the club in a position to take advantage of opportunities on the field and in business.
“As part of this process, the Board will think about all strategic options, such as putting more money into the club, selling it, or doing something else with the Company.
“This will include an evaluation of a number of initiatives to strengthen the club, such as redeveloping the stadium and infrastructure and expanding the club’s commercial operations on a global scale. All of these are aimed at improving the long-term success of the club’s men’s, women’s, and academy teams and bringing benefits to fans and other stakeholders.
Executive Co-Chairmen and Directors Avram Glazer and Joel Glazer said, “Manchester United’s strength comes from the passion and loyalty of our 1.1 billion fans and followers around the world.”
“Because we want to keep building on the Club’s history of success, the Board has given permission for a thorough evaluation of strategic options.
“We will look at all of our options to make sure that our fans get the best service and that Manchester United makes the most of the big growth opportunities it has now and in the future.
“During this process, we will keep our full attention on doing what’s best for our fans, shareholders, and other important people.”
The statement also said that The Raine Group, which helped with the recent sale of Chelsea, will be the club’s financial adviser during the process.
In the summer of 2005, the Glazer family took full control of Man Utd. However, this was mostly paid for by loans secured by the club’s own assets, which made it very unpopular with the fans.
