Sporting News – Manchester United owner mulls selling club
77577 Football News players Sports

Sporting News – Manchester United owner mulls selling club

Manchester United said on Tuesday it was starting the process of exploring strategic alternatives, including new investment or a potential sale, 17 years after the American Glazer family bought the Premier League football club .

The club said in a statement that the Glazer family was working with financial advisers on the process, which could lead to a partial sale of the Old Trafford club or investments including stadium and infrastructure redevelopment.

In August , British billionaire Jim Ratcliffe expressed interest in buying Manchester United, Reuters reported . At the time, Elon Musk joked about buying the club.

Managers are under pressure as United , who are fifth in the Premier League halfway through the season, are suspended for the current World Cup in Qatar.

United shares rose 20 percent after Sky News first reported the sale process , giving the club a market capitalization of $2.6bn .

At the close of U.S. markets on Tuesday, the company was valued at $ 2.5 billion. At its peak as a public company, it had a market capitalization of $ 4.3 billion in 2018 .

Ronaldo leaves

Also on Tuesday, the club said star striker Cristiano Ronaldo would leave immediately, marking the end of the Portugal captain’s second spell at Old Trafford after saying he felt betrayed by the club.

The Glazer family bought the club in 2005 in a highly leveraged £ 790 million ($ 939.07 million) deal that has been criticized for adding to the club’s debt.

Source: live.77577.live

Leave feedback about this

  • Quality
  • Price
  • Service

PROS

+
Add Field

CONS

+
Add Field
Choose Image
Choose Video
X