The Glazer family have instructed banks to handle the sale of Manchester United.
The Raine Group, who were previously employed by Roman Abramovich to manage the sale of Chelsea FC, will be acting as the club’s ‘exclusive financial advisor’ during the process.
Rothschild and Co. is meanwhile acting as exclusive financial advisor to the Glazer family shareholders.
The Premier League club announced on Tuesday night that the Glazers were “commencing a process to explore strategic alternatives for the club”, which was designed to “enhance the club’s future growth”.
The statement added: “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.
“This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.”
Manchester United’s executive co-chairmen and directors, Avram Glazer and Joel Glazer, said in the statement that they 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”.
“Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders,” they added.
US sports tycoon Malcolm Glazer first won control of Manchester United in a £790 million takeover bid in 2005.
