STORY: The Glazer family says it is considering selling Manchester United after 17 years at the helm.
The Americans bought the English Premier League club for more than $930 million in 2005.
However, it's been five years since the team won a trophy, and the Glazer family has faced intense criticism from fans and one of its star players.
In a statement released on Tuesday, the Glazer family said it was working with financial advisers on the process, which could lead to a partial sale of the Old Trafford club or investments including stadium and infrastructure redevelopment.
Earlier in the day, the club said that its star striker Cristiano Ronaldo was leaving with immediate effect.
It follows the Portuguese player's explosive interview with Talk TV during which he said he felt betrayed by the club and did not respect manager Erik ten Hag.
Ronaldo also refused last month to come on as a substitute in a game against Tottenham Hotspur.
The club said that he was leaving by quote 'mutual agreement.'
Manchester United shares jumped as much as 20% after news of the sale process broke, giving the club a market capitalization of $2.6 billion.