The Glazer family have confirmed that Manchester United is up for sale.
United’s American owners have instructed investment bankers to advise on the process, which could result in a full sale of the club and end their 17-year reign at Old Trafford.
‘The process is designed to enhance the club’s future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially. ‘There can be no assurance that the review being undertaken will result in any transaction involving the Company. Manchester United does not intend to make further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring a formal announcement.’United’s owners, Avram Glazer and Joel Glazer said: ‘The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers.
‘We will evaluate all options to ensure that we best serve 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.’The Glazer family took control of United in 2005 in a deal which saddled the club with £660 million of debt.
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