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After terminating with CR7, Manchester United reveals search for investor and even possible sale

Cristiano Ronaldo had his contract terminated with the Red Devils this Tuesday (22) – Reproduction / Twitter (@Cristiano)

Manchester United revealed, this Tuesday (22), shortly after disclosing the termination of the contract with Portuguese Cristiano Ronaldo, that the club’s Board of Directors began a process to “explore strategic alternatives” to leverage the growth of the Red Devils, with the aim of “positioning the club to capitalize on opportunities both on the pitch and commercially”.

In practice, as Manchester United’s own statement highlights, the club is looking for investors or even a possible sale.

“This will include an assessment of a number of initiatives to strengthen the club, including the redevelopment of the stadium and infrastructure, and the expansion of the club’s business operations on a global scale, each in the context of increasing the long-term success of the men’s, women’s and men’s teams. and grassroots, bringing benefits to fans and other stakeholders”, states the official statement.

The Raine Group is acting as the club’s exclusive financial advisor, while Latham & Watkins LLP is the legal advisor. Finally, Rothschild and Co. serves as the exclusive financial advisor to shareholders in the Glazer family, which has owned the Red Devils since 2005.

“The strength of Manchester United lies in the passion and loyalty of our global community of 1.1 billion fans and followers. As we look to continue building on the club’s success story, the Board has authorized a full assessment of strategic alternatives,” said Avram Glazer and Joel Glazer, co-CEOs and directors of Manchester United.

“We will evaluate all options to ensure that we provide the best service to 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.” “There is no guarantee that the review being carried out will result in any transaction involving the club.”

Manchester United also highlighted that it does not intend to make further announcements on the topic, until the Board has approved a specific transaction or other course of action that requires formal communication. In the last assessment of Manchester United made by forbes magazine, the market value of the English club reached US$ 4.6 billion. It is estimated that the Glazer family could get up to $5.9 billion from an eventual sale.

Please note that, at the end of August, the owners of Manchester United snubbed a proposal to buy the club made by Jim RatcliffeCEO of Ineos, a British chemical giant based in London and active in several sports. The executive has an estimated fortune of US$ 11.6 billion and is considered the richest man in the United Kingdom.

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