Manchester United explores "strategic alternatives," including sale
Manchester United said Tuesday its owners have started the process of exploring "strategic alternatives for the club," including a potential sale.
Why it matters: The announcement, which came on the same day the club said it had parted ways with soccer megastar Cristiano Ronaldo, follows years of disgruntled fans calling for new owners and months of rumors of a potential sale (even to Elon Musk).
Driving the news: Manchester United said in a statement the process is "designed to enhance the club's future growth" with the ultimate goal of "positioning the club to capitalize on opportunities both on the pitch and commercially."
- It could include stadium redevelopments, expanding the club's global reach and creating new experiences for fans.
- The team also said the board's new process may not lead to any transaction.
What they're saying: "We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future," Manchester United c0-chairmen Avram Glazer and Joel Glazer said in a statement.
Context: The potential sale follows news of other English clubs hitting the market, including Fenway Sports Group announcing it is exploring bids for Liverpool a few weeks back, and Chelsea selling for £2.5 billion earlier this year.
- Manchester United may cost somewhere between $2.45 billion and $5.3 billion if not more, according to the Wall Street Journal.
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