The American Glazer family confirms it is looking for outside investors or a potential disposal of the club after 17 contentious years.
| Manchester United said on Tuesday it was commencing a process to explore strategic alternatives, including a new investment or a potential sale, 17 years after the American Glazer family bought the historic English Premier League soccer club.
“As we seek to continue building on the club’s history of success, the board has authorised a thorough evaluation of strategic alternatives,” Avram Glazer and Joel Glazer, executive co-chairmen and directors of United, said in the statement. The company was worth $2.5 billion at the close of US trading on Tuesday. At its peak as a public company, it had a market capitalisation of $4.3 billion in 2018.Also on Tuesday, the club said that star striker Cristiano Ronaldo will leave with immediate effect, marking a bitter end to the Portugal captain’s second spell at Old Trafford after he said he felt betrayed by the club.
In his own statement after the announcement, Ronaldo said: “I wish the team every success for the remainder of the season and for the future.”The Glazers bought the club for £790 million in 2005 in a highly leveraged deal which has been criticised for loading debt onto the club.
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