The Old Trafford team confirmed that the Glazers plan to sell Manchester United . The announcement read: ” The Board of Directors will consider all strategic alternatives, including new investments in the club, sale or other related transactions.”
According to The Athletic, the Glazers will listen to an offer for Man Utd of at least £5 billion, but want a figure of £9 billion . Previously, Liverpool, valued at more than 4 billion pounds, was also sold by the American owner.
Notably, Sir Jim Ratcliffe once intended to buy Man Utd in the summer of 2022. At that time, Man Utd refused to sell. He admitted: “Man Utd is owned by the Glazer family. I met Joel and Avram, they are nice gentlemen. And they don’t want to sell the team.
Malcolm’s 6 children own Man Utd and they have no intention of ceding the team. If they wanted to sell in the summer, we had a chance. We cannot wait and hope that one day Man Utd will be transferred.
That’s why we tried Chelsea.”
He continued: “We have an interesting sports brand [Nice in Ligue 1], but what we don’t have is a Premier League team.”
Sir Jim Ratcliffe is the richest man in England. He owns a fortune of up to 11.3 billion pounds.
Glazers officially confirmed the sale of Man United, Old Trafford is about to welcome a new hope
The owners of Manchester United have issued a statement saying they are “exploring strategic alternatives” for the team, which may include selling it.
To put it mildly, the Glazers’ 17-year rule at Old Trafford has been ups and down, producing arguably much more lows than highs.
The die-hard fan base has been putting pressure on the Americans to leave because of a lack of money, an outdated stadium, and subpar performances on the field.
Initial reports suggested that the Glazers might be interested in selling, and supporters anxiously awaited confirmation via a formal announcement.
Now that the wealthy business family has written an open letter to the Manchester United supporters outlining their future plans, it appears they have received what they hoped for.
The Glazers claimed in the statement that “Manchester United’s strength hinges on the passion and commitment of our global community of 1.1 billion fans and followers.”
“The Board has approved a thorough examination of strategic alternatives as we work to maintain the Club’s track record of achievement.
We will weigh all of our options to make sure that we can best serve our supporters and that Manchester United takes advantage of the huge growth prospects that are currently and in the future open to the Club. We will remain entirely committed to looking out for the interests of our supporters, stockholders, and other stakeholders throughout this process.
The statement closes by disclosing that Latham & Watkins LLP would serve as the Glazers’ legal counsel and that Raine Group will serve as their financial advisor.
Roman Abramovich received assistance from Raine Group to sell Chelsea earlier this year.
Following the announcement that Cristiano Ronaldo would “leave Manchester United by mutual agreement, with immediate effect,” the Glazers made their statement a short while later.
If a transaction does proceed, it will probably take some time to complete.
Nevertheless, there will surely be a large number of would-be buyers eager to acquire one of the biggest sports organizations on the planet.
Sir Jim Ratcliffe, a British billionaire, is only one of the names connected to the group.
At the conclusion of the American Stock Exchange on Tuesday night, the corporation had a real value of US$2.5 billion.