Glazer family willing to sell Manchester United FC stake: sources

(Bloomberg) - The Glazer family are considering selling a minority stake in Manchester United FC, a person familiar with the matter said. football club.

The owners have held preliminary discussions about the possibility of attracting new investors, said the people, who asked not to be identified because the information is confidential. It says. The American Glazer family is not ready to hand over control of Manchester United, which is valued at around £5 billion ($6 billion), sources said.

Discussions are ongoing and there is no certainty that the Glazers will decide to sell their stake in the club, according to sources.Manchester United and representatives of the Glazer family declined to comment.

Manchester United shares rose as much as 7.6% in early trading in New York on Wednesday. The stock rose 4% at 9:38 a.m., taking the company's stock market value to his $2.2 billion.

Manchester United is one of the most famous and most successful clubs in world football. They have won a record 13 English Premier League titles and have consistently managed to attract some of the game's biggest stars, including Cristiano Ronaldo, Paul Pogba and Zlatan Ibrahimovic.

The club, like EPL team Chelsea FC, is likely to attract many high-profile investors. The team was recently sold to American billionaire Todd Boley and privately his equity firm Clearlake Capital in his £4.25 billion deal. Tesla Inc. CEO Elon Musk tweeted that Manchester United's global reach would buy the club early Wednesday before revealing he was joking. That's about it.

The late Malcolm Glazer bought the club in a leveraged buyout in 2005, leaving the club heavily in debt and the family facing distrust from die-hard supporters ever since. This was alleviated in the early days of ownership as the team continued to win trophies under Sir Alex Ferguson, but resentment has steadily increased following the legendary coach's retirement in 2013. Only a handful of trophies show that.

To make matters worse, their dominance of English football has gone to cross-town rivals who have won multiple accolades since being bought by Abu Dhabi investors in 2008.

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Protests planned

Manchester United's training grounds at Carrington and the famous Old Trafford Stadium. Perceived underinvestment in infrastructure and dissatisfaction with poor recruitment strategies exacerbate the disease. Will to the Glazers.

According to the club's website, Avram Glaser and Joel Glaser are executive co-chairmen and directors of Manchester United, along with family members Kevin Glaser, Brian Grazer and Darcy Glaser. Kassewitz and Edward Glaser are all on the board.

Fan tensions have been mounting in recent weeks, with Manchester United set for the first two of the EPL's new season. They have lost the match, including a 4-0 draw for Brentford FC. Opening match at home of the new campaign — in his 2–1 loss to Brighton & Hove Albion FC, many devotees made their way to the stadium with banners that read: Fight for United. Fight Glazers" and "We want the club back," reported The Telegraph. We are planning another protest.

Manchester United went public on the New York Stock Exchange in 2012. The latest headlines, articles, opinions and photos from the Toronto Sun.