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Manchester United Sale: PL club up for sale as chaos continues at Old Trafford after Ronaldo saga

Manchester United Sale: Manchester United are put up for sale by owners Glazer as chaos continues to surround Old Trafford with Cristiano Ronaldo's departure also confirmed on Tuesday (November 23)

Aditya Pimpale Written By: Aditya Pimpale @AdityaPimpale6 New Delhi Updated on: November 23, 2022 8:10 IST
Premier League
Image Source : GETTY Premier League: Manchester United up for sale as chaos continues at Old Trafford after Ronaldo saga

Chaos has continued to surround Old Trafford as yet another big news comes in the form of Manchester United's sale. The most successful club in the Premier League (PL) is put up for sale by owners Glazer family after a string of controversies have followed the club in recent times. The news comes less than 12 hours after the club had confirmed Cristiano Ronaldo's departure from Old Trafford.

17 years of association to end?

As things stand, the Glazers are set to end their 17-year association with the club having purchased it back in 2005. Manchester United are effectively up for sale with United's share price up 17 percent straight after the news, adding almost £336.4m ($400m) to the club's market capitalisation.

The American owners are willing to listen to offers for the club after a 17-year reign dominated by fan protests and declining on-pitch performance.

If the club - valued at around £5bn - is sold, it is expected to be purchased by US investors.

A Manchester United statement confirmed plans to identify "strategic alternatives" and said the process will consider a number of options "including new investment into the club, a sale, or other transactions involving the company".

"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. Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders."

The Raine Group, which facilitated the sale of Chelsea over the summer, is acting as United's exclusive financial adviser, with Rothschild and Co performing the same role to the Glazer family shareholders.

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https://twitter.com/ManUtd/status/1595107357159297029

Ronaldo saga also comes to an end

The united sale was not the only big news that has surrounded Old Trafford as the club earlier confirmed in a statement that they have agreed to terminate Cristiano Ronaldo's contract. In a controversial interview before the start of the FIFA World Cup, Ronaldo was seen firing words at United manager Erik ten Hag while also taking a dig at the club's ambassadors like Wayne Rooney. 

 

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