MANCHESTER UNITED’s stock prices SURGED after it was confirmed the club could be sold.
The Glazer family revealed on Tuesday that they’re open to ending their controversial 17-year ownership of the club.
GETTYThe Glazer family have put Manchester United up for sale[/caption]
The American’s decision to listen to offers for the club resulted in a 17 per cent increase in share valueGETTY
GETTYAvram and Joel Glazer have “authorised a thorough evaluation of strategic alternatives” for the club[/caption]
And their admission resulted in the club’s share prices skyrocketing by a whopping 17 per cent.
That equates to a stunning £336.4million ($400m) increase in the club’s market capitalisation.
The Glazer’s willingness to sell up will be music to the ears of a large portion of the Old Trafford fan base – who have regularly protested their ownership.
The Americans have racked up a whopping £500m worth of debt since taking charge of the club, which has declined on and off the pitch.
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And after nearly two decades of owning the global powerhouse, the brass are evaluating “strategic alternatives.”
“As we seek to continue building on the club’s history of success, the Board has authorised a thorough evaluation of strategic alternatives.
“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.
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“Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
A club statement read: “Manchester United plc (NYSE:MANU), one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the ‘Board’) is commencing 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.
“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.
“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.”
The bombshell revelation came just hours after the Red Devils ripped up Cristiano Ronaldo’s contract following his explosive interview with Piers Morgan.
Both parties “mutually” decided to terminate their relationship following the interview, in which the Portuguese made a number of allegations against the club.
Ronaldo, 37, said: “Following conversations with Manchester United we have mutually agreed to end our contract early.
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“I love Manchester United and I love the fans, that will never ever change. However, it feels like the right time for me to seek a new challenge.
“I wish the team every success for the remainder of the season and for the future.”