Glazer family instruct banks to handle sale of Manchester United

The Glazers have directed the banks to handle the sale of Manchester United.

Raine Group, previously employed by Roman Abramovich to manage the sale of Chelsea FC, will act as the club’s “exclusive financial advisor” in the process.

Rothschild also acted as exclusive financial advisor to Glazer family shareholders.

The Premier League club announced on Tuesday night that the Glazers were “beginning the process of exploring strategic options for the club” with the aim of “promoting the club’s future development”.

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The statement added: “As part of this process, the board will consider all strategic options, including new investments in the club, sale or other transactions involving the company.

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“This will include a review of several initiatives to strengthen the club, including the redevelopment of the stadium and infrastructure, and the expansion of the club’s commercial operations globally, each of which will enhance the long-term success of the club’s men’s, women’s and football clubs. in the context of the Academy team and to the benefit of fans and other stakeholders.”

United’s executive co-chairmen and directors, Avram and Joel Glazer, said in a statement that they would “evaluate all options to ensure we provide the best possible service for our fans and to ensure United get the most out of the Significant growth opportunity for the club today and in the future. The future”.

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

American sports mogul Malcolm Glazer first won control of Manchester United in 2005 with a £790m takeover bid.

But their 17 years at the helm of the Premier League club have been dominated by fan protests and declining performance.

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United haven’t won the Premier League since 2013 and have struggled to compete with the likes of Manchester City and Liverpool following Sir Alex Ferguson’s retirement.

Last May, the club’s Premier League game against Liverpool at Old Trafford was postponed amid organized protests by United fans against the boss.

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Thousands of supporters marched to Old Trafford in protest ahead of the same game in August this season.

On Monday, the club simultaneously announced that Cristiano Ronaldo would leave Manchester United with immediate effect.

The decision came after a controversial interview in which Ronaldo criticized the club and said he had “disrespect” for manager Eric ten Haag. Ronaldo also criticized the Glazer family.

Both parties said Ronaldo’s exit did not involve any money changing hands and was “mutually consensual”.

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(Photo: Getty Images)



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