The Glazers are working with financial advisers on the process, which could lead to a partial sale of the Old Trafford club or investments including infrastructure redevelopment theSun theSundaily ManchesterUnited Glazer sale OldTrafford
FILE PHOTO: Soccer Football - Premier League - Manchester United v Liverpool - Old Trafford, Manchester, Britain - August 22, 2022General view inside the stadium before the match - REUTERSPIXUS owners of Manchester United have begun looking at options for the 20-time English soccer champions, including a new investment or a potential sale, 17 years after the Glazer family bought the club.
“As we seek to continue building on the club’s history of success, the board has authorized a thorough evaluation of strategic alternatives,“ Avram Glazer and Joel Glazer, executive co-chairmen and directors of United, said in the statement. Its Frankfurt-listed shares rose 7.2% to their highest level since Sept. 21, albeit in very light volumes.
“It’s almost impossible to see how any Chinese-related entity could justify a purchase of this magnitude in the current climate,“ he said, citing the economic fallout of China’s ongoing battle to contain Covid-19 infections. “No state body would approve this kind of deal.” Jefferies analysts said they believe ManU would fetch more -the club’s Old Trafford stadium is bigger, the club has more than 1 billion followers, far more than its London rival, and generates more revenue and core profit.
The Glazers bought the club for 790 million pounds in 2005 in a highly leveraged deal which has been criticised for loading debt onto the club. They sold 10% of their holding via the 2012 U.S. listing and have sold more shares since.
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