Sports News | Glazer family aiming for record fee for Premier League giants Manchester United

Manchester [UK]Nov 24 (ANI): The Glazer family, owners of one of the most successful teams in the English Premier League, are seeking a record fee for giving up ownership of Manchester United.

Manchester United have won a record 13 Premier League titles since English football’s top flight was renamed in 1992.

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The Glazers issued a statement Tuesday saying they are looking at strategic alternatives, including outside investment or a sale.

Although the Glazer family will only accept an offer that would make United the most expensive sports team ever, sources close to ESPN have mentioned that a full takeover is the most likely outcome.

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When both were sold earlier this year, Chelsea brought in £2.5bn ($3.02bn) while the Denver Broncos raked in £3.85bn ($4.65bn).

According to Forbes’ latest estimate, United is worth £3.8bn ($4.59bn) but sources close to ESPN have told ESPN that the Glazers are looking at bids in excess of £6bn ($7.25bn) to hope.

According to sources familiar with the situation, Tuesday’s statement was intentionally ambiguous to protect the Glazers’ negotiating position.

Joel Glazer, the co-chairman, is still heavily involved in the day-to-day running of the club but the other Glazer siblings have different strategies and feel the moment is perfect to sell.

“As we announced, the Board has gone through a process and decided to look at various strategic alternatives and we are doing just that. We’ve been through a process, we’re going to look at all the different strategic alternatives and we’ll see where it takes us,” Co-Chairman Avram Glazer said, as quoted by ESPN Sky News.

The club has been surrounded by controversy, most recently the departure of Portuguese striker Cristiano Ronaldo.

Following his explosive interview with Piers Morgan in which he criticized United and manager Erik ten Hag, Ronaldo, 37, made a mutual decision to end his contract.

“Cristiano Ronaldo will leave Manchester United by mutual consent with immediate effect. The club would like to thank him for his immense contribution over two tenures at Old Trafford, scoring 145 goals in 346 games, and wish him and his family all the best for the future . All.” at Manchester United remains focused on continuing the progress of the team under Erik ten Hag and working together to succeed on the pitch,” the club said in a statement on Tuesday, quoted by ESPN

The forward told Morgan the team hadn’t made any progress since Sir Alex Ferguson retired in 2013 and that he disrespected Ten Hag, prompting United to try and end his contract at Old Trafford before he left in June should expire. (ANI)

(This is an unedited and auto-generated story from the Syndicated News feed, LatestLY staff may not have modified or edited the content.)

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