UAE

Life and Living

World

Opinion

Business

Sports

Entertainment

Lifestyle

Travel

Reviews

Brands

Supplements

KT Events

KT APPDOWNLOAD

Type your keywords

Manchester United owners consider sale of club

Statement from US-based Glazer family says it was commencing a process to explore strategic alternatives, including a new investment or a potential sale,

Read more...
Manchester United's Wayne Rooney lifts the trophy as Manchester United players celebrate their victory after the English League Cup final in 2017. The club hasn't won a trophy after 2017. — AFP file

By Agencies

Published: Wed 23 Nov 2022, 2:07 AM

Last updated: Wed 23 Nov 2022, 7:21 AM

The owners of Manchester United said on Tuesday they were open to selling the English football giants.

A statement issued by Manchester United plc said: "The board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company."

The US-based Glazer family have owned United for 17 years but their reign has been marked by declining on-field performance and repeated fan protests.

Advertising
Advertising

Fans of the team have been clamouring for a change of ownership and the Glazers have been the target of intense criticism after five years without a trophy.

“As we seek to continue building on the Club’s history of success, the Board has authorised a thorough evaluation of strategic alternatives,” the company said in a statement.

Glazers bought the club for 790 million pounds ($939.07 million) in 2005 in a highly leveraged deal which has been criticised for loading debt onto the club. United has been listed on the New York Stock Exchange since 2012.

ALSO READ:

Agencies

Published: Wed 23 Nov 2022, 2:07 AM

Last updated: Wed 23 Nov 2022, 7:21 AM

Recommended for you