Manchester United said today (November 22) it was commencing a process to explore strategic alternatives, including a new investment or a potential sale, 17 years after the Glazer family bought the Premier League soccer club.
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 authorized a thorough evaluation of strategic alternatives,” the company said in a statement.
The Glazers bought the club for £790 million (US$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.