The Glazer family, owners of Manchester United Football Club, is exploring financial options that could include an outright sale of the club, Sky News reported on Tuesday, citing sources. Fans of the football club have been clamoring for a change of ownership and the Glazers have been the target of intense criticism after five years without a trophy.
The family is preparing to formally announce its intention to examine potential sources of outside investment that could include an auction, the report said, adding that a statement confirming the same could come imminently.
Investment bankers were instructed by the club’s American owners to advise on the process, which could include a full or partial sale, or strategic partnership with third parties, according to the report. Manchester United did not immediately respond to a Reuters request for comment.
Reuters had earlier reported British billionaire Jim Ratcliffe had expressed an interest in buying United. Glazers bought the club for 790 million pounds (939.07 million dollars) in 2005 in a highly leveraged deal which has been criticized for loading debt onto the club. United has been listed on the New York Stock Exchange since 2012.