Glazer family instruct banks to handle sale of Manchester United

The Glazer family advised the banks to handle the sale of Manchester United.

The Glazers, who took over Manchester United in 2005, on Tuesday announced plans to explore “options” that could lead to the club’s sale.

A spokesman said the process would consider a number of options “including a reorganization of the company, a sale, or other business-related actions”.

The Raine Group, which was previously employed by Roman Abramovich to manage the sale of Chelsea FC, will act as the club’s ‘independent financial adviser’ in the process.

Rothschild and Co. as an independent financial advisor to Glazer family shareholders.

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The statement added: “As part of this process, the board will consider all strategic options, including a reorganization of the company, a sale or other actions related to the business.

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“This will include the evaluation of several measures to strengthen the club, including the redevelopment of the stadium and the development of businesses, as well as the expansion of the club’s business activities in worldwide, each in order to increase the long-term success of men, women and men. school teams, and bring benefits to fans and other stakeholders .

Avram Glazer and Joel Glazer, Manchester United’s managing directors and directors, said they will “assess all options to ensure that our fans are better served and that Manchester United maximizes opportunities.” great growth that the Club has achieved today and in the future”.

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“Throughout this process we will continue to fully serve the best interests of our fans, shareholders, and other stakeholders,” they said.

American Malcolm Glazer first won control of Manchester United in a £790 million transfer bid in 2005.

But their 17-year reign at the top of the Premier League club has been dominated by fans and declining performance.

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United have not won the Premier League title since 2013 and have struggled to compete with the likes of Manchester City and Liverpool since Sir Alex Ferguson retired.

The club’s Premier League game against Liverpool at Old Trafford was postponed in May last year due to a protest by United fans against the owners.

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And thousands of supporters marched to Old Trafford in protest ahead of the same fixture this season, in August.

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

The decision follows a controversial interview in which Ronaldo criticized the club and said he had “no respect” for manager Erik ten Hag. Ronaldo also criticized the Glazers.

Both sides said Ronaldo’s exit, which did not involve money changing hands, was “mutually agreed”.

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(Photo: Getty Images)



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