Manchester United explores sale
Manchester United became the latest major professional sports team to go on the sale block Tuesday.
Why it matters: Though they've fallen from their peak, the Red Devils are one of the most popular and valuable franchises in the world.
Details: The Glazer family, which bought the team in 2005, said Tuesday that a “process to explore strategic alternatives” had begun.
- "As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company," said a United statement.
The big picture: They're the third Premier League club to be for sale in what has been a big year for franchise deals.
- Chelsea was sold earlier this year to a group led by Los Angeles Dodgers owner Todd Boehly and Clearlake Capital.
- Fenway Sports Group said earlier this month it was exploring selling a controlling stake in Liverpool.
- In the states, a slew of teams are for sale, including MLB's Los Angeles Angels and Washington Nationals, the NFL's Washington Commanders and the NBA's Phoenix Suns.
Of note: Manchester United is one of the most successful clubs in English soccer but has fallen from its peak in recent years.
- The club is coming off an embarrassingly public feud with star player Cristiano Ronaldo. In fact, just hours before the sale announcement, Ronaldo and the club immediately agreed to part ways.