Hot: MU considers selling himself

MU shares rose 19% immediately after the information that the club wanted to sell themselves was revealed.

Owner Manchester United (MU) is exploring strategic options that could lead to the sale of the entire historic British football club.

Bloomberg reports that the Glazer family is working with financial advisors in the process. In an official statement on Tuesday, the club said the process could lead to a partial sale of the club or investments including stadium redevelopment and infrastructure.

“As it seeks to continue to build on the club’s successful history, the board has enabled a thorough assessment of strategic alternatives,” said Avram Glazer and Joel Glazer, executive co-chairs. and the director of Manchester United said in the statement. “We will evaluate all options to ensure that we are serving our fans the best.”

The source said Raine Group is advising Manchester United in the process, while Rothschild and Co. acted as financial advisor to the Glazer family.

Manchester United’s US-listed shares jumped 19% after Sky News first reported on the plans.

In fact, back in August, Bloomberg reported that the Glazers would consider selling a minority stake in Manchester United and the deal could value the club at around £5 billion ($6 billion).

The sale of all or part of Manchester United is likely to attract a host of big-name investors. In May, English Premier League rivals Chelsea FC were sold to American billionaire Todd Boehly and private equity firm Clearlake Capital in a deal worth £4.25 billion.

Currently, MU has just parted ways with their most famous player. A public spat between Manchester United management and Old Trafford legend Cristiano Ronaldo ended earlier on Tuesday when the club announced it had reached a mutual agreement for Ronaldo to leave the club.

Ronaldo’s departure will be “effective immediately”, the club said. “The club thanks him for his tremendous contributions on two occasions at Old Trafford,” a team statement read. “Everyone at Manchester United remains focused on continuing to develop the team under Erik ten Hag and working together to deliver success on the pitch.”

The late billionaire Malcolm Glazer bought Manchester United in a leveraged buyout (a leveraged buyout is a form of acquisition and merger of businesses with borrowed finance) in 2005, leaving the club with huge financial burdens. huge debt and this family has faced mistrust from hardcore supporters ever since.

Though doubts were allayed in the early years as the team went on to win numerous titles under the famous manager Sir Alex Ferguson. Still, outrage grew steadily after the legendary coach’s retirement in 2013.

Source: Bloomberg