Manchester United are set to be put up for sale with the Glazer family seeking an offer in excess of £6 billion.
The controversial American owners have released a statement saying that new investment is being sought, either as a share of the club or an outright takeover that would end their reign at Old Trafford.
According to the Times, the Glazers will seek a record-breaking figure between £6-£8billion for the club. Sir Jim Ratcliffe – regarded as Britain’s wealthiest man and a boyhood United supporter – has been linked with a takeover after expressing interest during the summer.
Ratcliffe failed with a late bid for Chelsea in June, who were eventually to Todd Boehly and Clearlake Capital in a deal worth an initial £2.5 billion, with a further £1.75 billion guaranteed of investment into the club.
The decision of the Glazers will be welcomed by United’s fanbase, following years of protests against the ownership. United have been owned by the Americans since 2005, when the Glazer family purchased the club in a heavily-leveraged £790m deal.
United have since undergone a period of decline and are without a Premier League title since 2013. The controversial takeover saddled the Red Devils with huge debts and the Glazers have used the club’s commercial revenue to pay the interest, draining finances from one of world football’s most lucrative clubs. The family have also taken hundreds of millions out of the club in dividends.
The move follows a similar decision Fenway Sports Group (FSG), the American owner of Liverpool. FSG are seeking a sale or further investment at Anfield, as the club look to compete with an increase in the number of rivals owned by by Gulf states.
It is thought that the decisions of both Liverpool and United’s owners to put the clubs up for sale is an indication that the valuation of top Premier League clubs has now peaked following the collapse of the European Super League and the global economic downturn.
