Wednesday, November 23, 2022

HOT: Glazers confirm they want to sell MU

The Glazer family confirmed that they are considering strategic options to help Man United develop, including the sale of this club.

Glazers confirm they want to sell MU

The announcement was made on the Man United homepage: “Manchester United plc (public limited company) (NYSE:MANU – stock ticker listed on the New York Stock Exchange), one of the clubs The most successful and historic sports kit in the world, today announced that the company's Board of Directors is initiating the process of exploring strategic options for the club.

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This process is aimed at enhancing the future growth of the club, with the ultimate aim of putting the club in a position to be able to capitalize on opportunities both on the pitch and commercially. commercial.

As part of this process, the Board of Directors will consider all strategic options, including new investments in the club, sale or other transactions involving the Company. This will include the evaluation of a number of initiatives to improve the club, including redevelopment of the stadium and infrastructure, and the expansion of the club's commercial operations on a global scale. All of these initiatives are intended to enhance the long-term success of the club's men's, women's and academy teams and benefit fans and other stakeholders.

The strength of Manchester United is based on the passion and loyalty of the global football community of 1.1 billion fans and followers. We are continuing to build on the club's successful history. The Board of Directors has allowed for a thorough evaluation of strategic solutions. We will evaluate all options to ensure we can best serve our fans and that Manchester United can thrive now and into the future. Throughout this process, we will continue to focus on serving the best interests of our fans, shareholders and other stakeholders.”

The Glazers have been at the helm of Manchester United for 17 years since the £790m leveraged buyout of the club in 2005. It is known that the Glazer family will listen to offers from £5bn but will requires up to about 9 billion pounds from the sale of MU. The decision to let go was made by the Glazer family after having "lost" most of the equity from the club. Now Man United is drowning in huge debts because of reckless spending and the next owner of the team will have to take care of the dozens of problems left by the Glazer family.

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