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Manchester United owners seeking sale

The Glazers, who own Manchester United, are seeking a sale of the club in the near future. The club’s owners want new ownership investment. Whether it will become a full sale or partial investment remains to be seen.

Sky Sports claims the Glazer family should soon formally announce plans to sell the club.

Later in the day, Manchester United formally announced plans for “strategic alternatives to advance the club’s growth.” Explicitly stated, that includes “new investment into the club, a sale, or other transactions involving the Company,” according to Manchester United.

United and the Glazers hired The Raine Group as the club’s exclusive financial advisor.

Tumultuous Glazers ownership leads to potential sale of United

The Glazers first invested into United in May of 2005. They originally spent around $1.5 billion on a 29% stake of the team at the time. Much of this money was borrowed and the debt was then transferred to the club. Prior to the Glazers arrival in Manchester, United was supposedly debt-free. However, the team reportedly took on around £540 million in debt following the investment by the Americans.

This debt had risen to £777 million within the first two years of the Glazers being at the club. Nevertheless, the Guardian has claimed that the team has since lowered their fiscal responsibilities to around £400 million by the start of 2020.

According to the report, investment bankers have been asked to advise the Glazers on the upcoming process. The owners are thoroughly exploring their options for the future.

Although numbers have not yet been determined, it is widely speculated that a potential sale would smash the fee Todd Boehly’s group recently paid for Chelsea. The American businessman and his partners spent about $5.4 billion to purchase the Blues in May.

Fans have sporadically staged protests in recent years for the Glazers to depart United. These reports that the Americans could finally sell…

Source link : https://worldsoccertalk.com/news/manchester-united-owners-reportedly-seeking-sale-20221122-WST-409530.html

Author : Chris Moore

Publish date : 2022-11-22 22:12:17

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