Manchester United for sale: Latest news, updates on Glazers club … – Sporting News

The future of Manchester United remains on uncertain ground in 2023 after the Glazer family outlined their interest in selling the club.
The US-based investors have endured a controversial relationship with United fans since taking charge at Old Trafford in 2005 and confirmed in November that they were exploring the possibility of a sale.
Despite an initial spark of speculation over what could happen next with the Glazer’s ownership of United, potential buyers are yet to register a consistent interest aside from in January 2023, Sir Jim Ratcliffe announcing his plans to make a bid.
Still, with the Glazers reportedly keen to sign off on any deal in the first quarter of 2023, you can expect significant developments in the coming weeks.
MORE: Who is buying Manchester United? Sir Jim Ratcliffe background and bid after Glazers put Man Utd on sale
Following the initial rumours in November 2022, United and the Glazers released a statement to address the situation, and they are open to a direct sale.
“The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers,” the statement said.
“As we seek to continue building on the club’s history of success, the board has authorized a thorough evaluation of strategic alternatives.
“The board will consider all strategic alternatives. That includes new investment into the club, a sale, or other transactions involving the company.”
Following the Glazers’ announcement, there was a fluctuation on United’s stock and company valuation, as the financial markets reacted to the news.
The expectation is that a lower price will be negotiated as part of takeover talks, with reports from the Financial Times estimating the club has an overall worth of around $3.5 billion, despite previous estimates of over $4bn. However, it’s thought the Glazers want to hold out for closer to $5bn.
Interest in United will continue to grow, particularly if their value drops, with rumours connecting individuals and companies with a move.
The current frontrunners to take over include the Dubai Sovereign Wealth Fund (DWSF) and British billionaire Sir Jim Ratcliffe as United aim to keep pace with neighbours Manchester City, backed by their Abu Dhabi ownership.
Ratcliffe was linked with a takeover offer before the Glazers’ arrival 17 years ago, while an offer from the DWSF would continue the pattern of state ownership of clubs in European football.
MORE: Why Wout Weghorst loan to Manchester United makes sense
The Glazers’ connection with United stretches back to 2003, following their initial purchase of club shares through a 2.9% stake at Old Trafford.
That was followed up by gradual share increases year by year up until 2005, where they purchased a controlling stake from former owners JP McManus and John Magnier.
Following a rapid buying of shares in the summer of 2005, the Glazers completed a full takeover before the start of the 2005/06 season, with an estimated full purchase price of around £790 million ($1.5bn).
To finance the takeover, the family loaded some of the debt onto the club, putting them in the red for the first time since the 1930s. It is the club’s debt level, coupled with the Glazers taking millions in dividend payments each year while substantially reducing investment into certain areas of the club — such as the stadium — that has fuelled much of the anger towards their ownership among fans.
Links with a state-backed purchase are relatively new, with Dubai officials open to joining their neighbouring states in purchasing a major football club.
A report from the Daily Mirror in November 2022, claimed the Dubai leadership are working on an investment portfolio involving private investors, after being put on ‘red alert’ by the Glazers’ announcement. However, since then no developments have come to fruition, at least not publicly.
If Manchester United do get a new owner, famous fan Sir Jim Ratcliffe is a strong contender to take charge.
On January 17, 2023, Ratcliffe’s firm Ineos officially declared an interest in buying United. With the Glazer family looking to sell, Ineos said the company had “formally put ourselves into the process.” 
Ratcliffe, who lodged an unsuccessful £4.25bn offer to buy Chelsea last year, is currently ranked the 27th wealthiest person in the UK on the Sunday Times Rich List.
The 69-year-old was born in Greater Manchester and grew up supporting the club.
Ratcliffe founded chemical company Ineos in 1998 and this has allowed him to build an estimated net worth of £12 billion ($14.4m).
He has previously declared his interest in buying United should the opportunity arise, and his late bid to purchase Chelsea underlined his readiness to pounce in a difficult market.
Outside football, Ratcliffe also purchased the Team Sky cycling franchise in 2019, which was rebranded to INEOS Grenadiers. The company also has sponsorship deals with Mercedes AMG F1 and the All Blacks.
The prospect of a fairy-tale return for David Beckham has caused wild speculation amongst fans after former teammate Rio Ferdinand previously hinted at a potential deal.
Beckham has already expanded his post-playing career investment portfolio, with a majority stake in MLS side Inter Miami, but any interest would have to come as part of a combined bid.
If the Glazers want a quick sale, it appears unlikely that Beckham will pivot from his US project, despite the narrative behind his links to United.
fuboTV
UK: Matches are carried across Sky Sports and BT Sport streaming and TV platforms, with select matches on Amazon Prime.
USA: Select matches are televised on USA Network (English) and Telemundo or Universo (Spanish), and all three channels can be streamed on fuboTV. The rest of the matches are streamed on NBC platform Peacock for subscribers.
Canada: Every Premier League game this season is live streaming exclusively via fuboTV in Canada.
Australia: Fans in Australia can stream every match live and on demand on Optus Sport
India: Star Sports network has the rights to show Premier League matches in India. As well as an English broadcast on Star Sports Select, select matches will be available via regional feeds on Star Sports 3 (in Bengali, English, Kannada, Malayalam), Star Sports 1 (Bangla) and Star Sports 1 (Tamil).

source

Leave a Comment