Topline
The billionaire Glazer family that has owned Manchester United since late sports magnate Malcolm Glazer gained control in 2005 is exploring a sale of the club that could include giving up its controlling share, according to multiple reports, following years of fan backlash over declining performances on the field.
Manchester United’s logo is seen in Ankara, Turkey on July 25, 2018. (Photo by Aytac Unal/Anadolu … [+]
Key Facts
The family has contacted investment bankers to explore a potential transaction that may be a partial sale or “include a full-blown auction” of the club, Sky News reported.
The Glazer family holds around 97% of voting power at the club, though a small share of the organization is publicly traded on the New York Stock Exchange.
Manchester United’s stock rose more than 14.6% on the news to close at $14.94 Tuesday afternoon.
The club did not immediately respond to a request for comment from Forbes.
Forbes Valuation
We estimate Manchester United to be worth $4.6 billion, making it the third-most valuable soccer club in the world. We estimate the Glazer family to be worth $4.7 billion.
Key Background
Manchester United is widely considered among the most storied soccer clubs in the world, having won the English top division a record 20 times and the UEFA Champions League—and its predecessor competition, the European Cup—three times. But the team’s performance has steadily declined under the Glazers’ ownership, while the family has riddled the organization with debt, leading fans to accuse the Glazers of prioritizing their personal finances over the club’s performance. Manchester United have not won the Premier League since 2013 and last won a competition of any sort in 2016, when they captured the FA Cup. In that time, crosstown rival Manchester City have emerged as a new powerhouse in English soccer, further infuriating fans.
Tangent
Manchester United cut ties with superstar Cristiano Ronaldo by “mutual consent” Tuesday after he berated team management in an interview with Piers Morgan last week, claiming the owners “don’t care about the club.”
Further Reading
Manchester United owners to explore sale as Glazers seek new investment (Sky News)
Cristiano Ronaldo Will Leave Manchester United By ‘Mutual Consent’ (Forbes)
Source: https://www.forbes.com/sites/nicholasreimann/2022/11/22/manchester-united-billionaire-glazer-family-may-sell-team-after-years-of-fan-outrage-reports-say/