Home sports-news Manchester United owners exploring potential sale of famed club | CNN-EnglishHindiBlogs-SportsNews

Manchester United owners exploring potential sale of famed club | CNN-EnglishHindiBlogs-SportsNews

24
Rate this post





CNN

Manchester United’s owners announced on Tuesday their intention to explore selling the iconic club, saying the “process of exploring strategic alternatives” had begun.

Such alternatives could include the complete sale of the club by the Glazer family, who took control of Manchester United in 2005.

A statement from the company said: “As part of this process, the board of directors will consider all strategic alternatives, including new investment in the club, sale, or other transactions involving the company.”

The statement indicated that the sale of the club is not guaranteed.

“There can be no assurance that a review being made will result in any transaction involving the company,” it was reported.

The statement quoted Avram and Joel Glazer as saying: “While we seek to continue building on the club’s history of success, the Board has authorized a comprehensive assessment of strategic alternatives.

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

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

United confirmed that the Rain Group is acting as financial advisor to the Glazer family, while Latham & Watkins LLP is the company’s legal advisor. Rothschild & Co. acts as financial advisor to the family’s shareholders.

Union is rare in the world of sports and finance.

It’s one of the few publicly traded major sports franchises, but there are a few others. Shares of two of United’s rivals are publicly traded on European stock exchanges – Germany’s Borussia Dortmund is traded in Frankfurt and Italy’s Juventus is listed in Milan.

According to Forbes, Manchester United is the third most valuable football club in the world with a net worth of $4.6 billion – behind only Spanish giants Real Madrid and Barcelona.

However, the club has not won a trophy since 2017 and has seen a succession of managers since Alex Ferguson’s retirement in 2013.

The current Erik ten Hag is the fifth permanent manager to be appointed by United since Alex Ferguson, after David Moyes, Louis van Gaal, Jose Mourinho and Ole Gunnar Solskjaer.

Earlier on Tuesday, United announced this Cristiano Ronaldo He leaves the club with immediate effect.

In a brief statement, United said the decision, which came a week after Ronaldo gave an explosive TV interview about his frustrations at the club, was taken by mutual agreement.

.