NEWS DESK
OLD TRAFFORD, MANCHESTER: Manchester United‘s owners say they are considering selling the club as they “explore strategic alternatives” after the Glazer’s family’s 17-year-reign dominated by opposition from fans and declining performance in the stadium.
The premier league club announced on its website that as part of the process, the club’s Board of Directors would “consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.”
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Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said in a statement published on the club’s website that the Board has authorized a thorough evaluation of strategic alternatives, adding that they would evaluate all options to ensure that they best serve the fans and that the club maximizes the significant growth opportunities available to it presently and in the future.
United’s share price immediately rose by 17 per cent as reports of its potential sale emerged, adding almost $400 million to the club’s market capitalisation, reported Sky News.
United’s downfall in the hands of Glazers
Malcolm Glazer bought Manchester United for $1.34 billion in 2005 – a deal that was highly unpopular among fans for being financed primarily through loans secured against the club’s assets. The deal also imposed huge debts on the club which was debt-free before Glazer took over the club.
Within a year of buying United, Glazer had two strokes and his six children – Avram, Joel, Bryan, Kevin, Darcie and Edward – assumed the club’s leadership, all of them sitting on the board of directors.
The Red Devils have mostly been on a downward spiral since then. The club was unable to win the Premier League title after 2013, and sacked several managers following the retirement of Sir Alex Ferguson. It has also not won a trophy since claiming the Europa League and EFL Cup in 2017.
From massive and consistent protests by fans such as the “Green and Gold Scarf Campaign” to athletes criticizing the owners, Manchester United – one of the most historic and renowned football clubs – remained under crisis throughout most part of the ownership of the Glazer family.
A protest by fans last year resulted in the postponement of United’s home league match against Liverpool.
Portuguese football Legend Christiano Ronaldo, who left United on Tuesday after rejoining the club following a 12-year dissociation, claimed in a recent interview with Piers Morgan that the Glazers “don’t care about the club”, adding that it was a “marketing club”.
In 2012, the Glazers sold 10 per cent of their shares via a stock listing and have also sold further holdings in the following years.
In short, United’s 17-year reign under the Glazers has mostly been a rough one both for the club and the fans. Now, most sports analysts opine that an expected transfer of the club’s ownership would be welcomed by fans.
