Manchester United have confirmed press speculation that they have commenced a process to explore strategic alternatives for the club.
The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially, the club said in a statement.
Club statement on a process to explore strategic options for Manchester United.#MUFC
— Manchester United (@ManUtd) November 22, 2022
“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.”
READ: Manchester United shares rise as Liverpool put up the 'for sale' sign
The Red Devils said 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.
Executive co-chairmen and directors, Avram Glazer and Joel Glazer said, “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers.”
“As we seek to continue building on the Club’s history of success, the Board has authorized a thorough evaluation of strategic alternatives.”
“We 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.”
If concluded a sale would end a 17-year reign dominated by fan protests and declining on-pitch performance.
The confirmation means that two of England’s best known teams are looking for new owners with Liverpool’s US owners also searching for a buyer.