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Manchester United owners consider selling club

Manchester United owners consider selling club

Manchester United owners consider selling club
Nov 23, 2022 1 min, 40 secs

owners of Manchester United (MANU.N) have begun looking at options for the 20-time English soccer champions, including a new investment or a potential sale, 17 years after the Glazer family bought the club.

The Glazer family is working with financial advisers on the process, which could lead to a partial sale of the Old Trafford club or investments including stadium and infrastructure redevelopment, the club said in a statement.

Manchester United fans have been clamouring for a change of ownership and the Glazers have been the target of intense criticism as the team, which has a record 13 English Premier League titles, have gone five years without winning a trophy.

"We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the club today and in the future," the statement said.

The Glazers, who also own National Football League team Tampa Bay Bucccaneers, are under pressure with United sitting fifth in the Premier League halfway through the season, which has been suspended because of the current Qatar World Cup.

[1/2] Soccer Football - Premier League - Manchester United v Liverpool - Old Trafford, Manchester, Britain - August 22, 2022 General view inside the stadium before the match REUTERS/Phil Noble.

Liverpool chairman Tom Werner has said the Premier League side's owners Fenway Sports Group(FSG) were exploring a sale of the club.

Also on Tuesday, the club said that star striker Cristiano Ronaldo will leave with immediate effect, marking a bitter end to the Portugal captain's second spell at Old Trafford after he said he felt betrayed by the club.

The Raine Group is acting as financial adviser and Latham & Watkins LLP is the legal adviser to Manchester United.

Manchester United forward Cristiano Ronaldo will leave with immediate effect, the Premier League team said on Tuesday, marking a bitter end to the Portugal captain's second spell at Old Trafford after he said he felt betrayed by the club.

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