Manchester United: Glazer family owners considering selling Premier League club

Avram and Joel Glazer
Protests are frequent at Old Trafford over the Glazer family’s ownership of the club

Manchester United owners, the Glazer family, say they are considering selling the club as they “explore strategic options”.

This comes after years of fans protesting their ownership.

A club statement said the board would “consider all strategic options, including new investments in the club, sale or other transactions involving the company”.

It 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 globally” to enhance “the long-term success of the club’s men’s and women’s football clubs”. . and Academy teams, and to the benefit of fans and other stakeholders.”

in 2012, Glazer family sells 10% stake It went public with stock and sold more shares over the next few years.

Executive Co-Chairmen and Directors Avram Glazer and Joel Glazer said: “As we seek to continue to build on the Club’s history of success, the Board has authorized a comprehensive review of strategic alternatives.”

“We will evaluate all options to ensure we provide the best possible service to our fans and to ensure that Manchester United maximizes the significant growth opportunities available to the club today and in the future.

“Throughout this process, we will remain focused on serving the best interests of our fans, shareholders and various stakeholders.”

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

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

American investment company Raine Group, who handled Chelsea’s £4.25bn sale in May, Acting as exclusive financial advisor to United Airlines.

club statementexternal link It added: “There can be no assurance that the ongoing review will result in any transaction involving the company.

“United do not intend to make further announcements regarding the review unless and until the board approves specific transactions or other courses of action requiring formal announcements.”

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

In recent years, there have been numerous protests against the ownership of the Glazer family, including one for May 2021 This led to the postponement of Manchester United’s home game against Liverpool.

In August, thousands of supporters marched to Old Trafford in protest ahead of the same game this season.

United were part of a failed European Super League project that quickly collapsed in April 2021.Manchester United co-chairman Joel Glazer apologize later for the turmoil caused.

He has since taken to a fans forum following supporter turmoil and promised to give his followers a stake in the club.

According to Transfermarkt,external link Under the Glazers, United spent a net €1.36bn (£1.18bn) on transfers, with only City spending a higher figure over the same period.

Portugal captain Cristiano Ronaldo, leave Manchester United immediately Tuesday criticism of club ownership In a controversial interview last week, the Glazers “don’t care about the club” when it comes to sport.

The move to sell Manchester United comes after Liverpool chairman Tom Werner said Fenway Sports Group is ‘exploring sale’ Anfield club.

Bloomberg Newsexternal link In August 2022, the Glazer family said they were willing to sell a minority stake in the club.

British billionaire Sir Jim Ratcliffe said he would be interested buying manchester united before he said In October, the Glazer family told him they did not want to sell.

‘If Glazers were to leave, most fans would welcome it’ – Analysis

Simon Stone, BBC Sport football reporter

There was never any real dispute that the Glazers viewed United as a financial investment.

To a greater or lesser degree – co-chairs Joel and Avram are the most invested – they are interested in the football side of things, but the main purpose is to make money, which they have managed to do.

To that end, a combination of problems has prompted the Glazers to decide now is a good time to test the waters and exit.

First of all, the European Super League plan was killed. While Barcelona, ​​Juventus and Real Madrid insist it will be cleared through the courts, in its original form, it’s done – and with it the riches it was supposed to bring.

Then, Saudi Arabia’s backing of Newcastle created more competition in the Premier League and eventually Europe.

Add to that the huge investment required to refurbish Old Trafford – and improvements to the club’s Carrington training ground – and managing a competitive United will be very expensive in the short term.

To that end, Chelsea’s £4.25bn summer sale is starting to look very attractive.

The Glazers have not been popular owners since the day they bought Manchester United in 2005.

If they were to leave, most fans would welcome it. However, their dreams of ownership may be unrealistic given the likely sale price.

And, even if boyhood fan Sir Jim Ratcliffe tries to buy the club as per his summer plans, he is unlikely to be the only party interested. In the short term, the future at Old Trafford may only create more uncertainty.

Manchester Evening News back cover
Manchester Evening News back cover

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