The Glazer household have introduced that they’re “exploring strategic alternate options” for the membership, which incorporates Manchester United’s potential sale.
WHAT HAPPENED? After preliminary reviews had advised that the Glazers may very well be open to a sale, United launched an announcement on their official web site confirming their place. The announcement defined that any transfer can be a part of an initiative to reinforce the membership’s future prospects, each in an infrastructural and business sense, with the Glazers stating they’re dedicated to the “finest pursuits” of the membership’s followers, shareholders and stakeholders.
THE BIGGER PICTURE: The assertion is a seminal second after 17 years of controversial possession. United’s fan base have taken half in numerous protests, as a result of Glazers’ lack of funding and heavy involvement within the European Tremendous League debacle. The membership stay with no Premier League trophy since Sir Alex Ferguson’s retirement again in 2013.
AND WHAT’S MORE: The assertion continues that Raine Group – who helped conclude the sale of Chelsea from Russian oligarch Roman Abramovich earlier this 12 months – are appearing because the Glazers’ unique monetary advisor, whereas Latham & Watkins LLP will probably be their authorized counsel.
WHAT THEY SAID: “The power of Manchester United rests on the eagerness and loyalty of our world neighborhood of 1.1 billion followers and followers,” the Glazers stated within the assertion. “As we search to proceed constructing on the Membership’s historical past of success, the Board has approved a radical analysis of strategic alternate options.
“We are going to consider all choices to make sure that we finest serve our followers and that Manchester United maximizes the numerous progress alternatives out there to the Membership at the moment and sooner or later. All through this course of we are going to stay totally centered on serving the very best pursuits of our followers, shareholders, and numerous stakeholders.”
WHAT NEXT FOR UNITED? Whereas any potential sale is prone to take time, earlier potential suitors will probably be on excessive alert to take over. Billionaire United fan Sir Jim Ratcliffe has been simply one of many names linked with the membership prior to now.