Report: Glazers seeking new investment, possible sale of Man United
Manchester United could soon come under new ownership, with the Glazer family reportedly “preparing to formally announce” their intentions to add new investors or even an outright sale of the club, according to a report from Sky News.
The report comes just a matter of hours after Manchester United confirmed on Tuesday that Cristiano Ronaldo has left the club after mutually agreeing termination of his contract, thus ending another long-running saga at Old Trafford.
Further details regarding the Glazer family’s decision to seek new investment or ownership for Manchester United — quotes from Sky News:
Sources said on Tuesday that investment bankers were being instructed by Manchester United’s owners to advise on the process, which is likely to include a full or partial sale, or strategic partnership with third parties.
A statement confirming their intentions could come imminently, one of them said.
It remains possible that the family, which took control of United in 2005 in a $938.5-million deal largely funded by debt, opt not to sell.
A partial sale to new investors, with capital being raised to fund an overdue redevelopment of Old Trafford, is one potential outcome from the process.
The Glazers have acknowledged the need for new infrastructure investment to transform the stadium into a genuinely world-class venue, while substantial funds are also required to enable the men’s team to compete once more at the top of the European game.
Manchester United last won the Premier League title in 2013, the final act of Sir Alex Ferguson’s legendary career.