Cristiano Ronaldo Alex Ferguson Chelsea Football Britain Manchester New York Sporting Cristiano Ronaldo Alex Ferguson Chelsea Football Britain Manchester New York

Explained: Manchester United put up for sale by the Glazer family

Reading now: 289

The Glazer family’s ownership of Manchester United has been one of the most controversial in English football history, but their 17-year reign at Old Trafford could finally be coming to an end.On the same day as Cristiano Ronaldo left United with immediate effect following the termination of his contract, the club also revealed that the Glazers are seeking new investment.Ever since their leveraged buy-out in 2005, which saddled one of English football’s most famous clubs with hundreds of millions of pounds worth of debt, their ownership has sparked protest and division within their fanbase.Anger with their ownership has been exacerbated by United’s struggles on the pitch, with no league title in nine years, no silverware of any sort in five and a steady decline since the retirement of Sir Alex Ferguson in 2013.Yet as of Tuesday’s announcement, United are up for sale.

For the first time since taking the reins in 2005, the Glazers confirmed that they are open to relinquishing their control of the club.The Glazer family announced on Tuesday evening that they have “commenced a process to explore strategic alternatives for the club”, with the aim to “enhance the club’s future growth”.In the statement, the club confirmed that they will consider all options available to them, including “new investment into the club, a sale, or other transactions involving the company.”The Raine Group, who worked on the £2.5bn sale of Chelsea earlier this year, are acting as the club’s financial advisors during the process.This is the first time that the Glazer family have publicly expressed that they are seeking new investment since listing the club on the New York Stock Exchange in 2012 and the first time in their 17 years of ownership that a

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News