The Glazer family is considering selling Manchester United, the team announced Tuesday.
The board is considering “all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company,” the club said in a statement. “We will evaluate all options to ensure that we best serve our fans and that Manchester United maximises the significant growth opportunities available to the club today and in the future.”
The Glazer family also own NFL Tampa Bay Buccaneers. The American family bought Manchester United for $1.34bn in 2005, starting years of protests from fans against the new ownership.
“As we seek to continue building on the club’s history of success, the board has authorised a thorough evaluation of strategic alternatives,” said executive co chairmen and directors Avram Glazer and Joel Glazer.
The Premier League club said the process will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment and new commercial operations on a global scale.
According to Forbes, the club is worth $4.6 billion. The team’s stock price shot up 15% on Tuesday to $14.94.
In the 2020-21 season, Manchester United generated revenue of nearly $572 million, the fifth largest in the world among professional clubs, according to Deloitte.
News of a potential sale comes just hours after Portuguese star Cristiano Ronaldo severed his contract with the club.
The team has not won the Premier League title since 2013.