Manchester United owners the Glazers looking to sell club since the summer

The Glazer family have been actively exploring the potential sale of Manchester United since the summer and it is anticipated that some of the parties who bid for Chelsea could come to the table, sources familiar with the process have told Telegraph Sport.

United released a statement on Tuesday night announcing that the Glazers were seeking new investment either through a partial or full sale of the club, raising the prospect of the Americans ending their controversial 17-year ownership.

Sources said that, while all avenues would be explored and the Glazers were open to minority investment if it represented the right strategic partnership and value, there would be reluctance to relinquish control of the club without a full sale.

Although the news comes barely a fortnight since it emerged that Fenway Sports Group, fellow architects in the failed European Super League plot last year, were looking to offload Liverpool, the Glazers have been looking into a sale of United for months. “I would say this goes back to the summer,” one source said, adding that news of United’s availability could put a “spike” in the Liverpool process.

The Glazers have instructed the Raine Group, which helped broker the £2.5 billion sale of Chelsea to Todd Boehly over the summer, as the club’s exclusive financial advisors. Sources said they would not be surprised if some of the groups who failed in their efforts to buy Chelsea now showed interest in United.

The American billionaires Josh Harris and David Blitzer, owners of the Philadelphia 76ers NBA franchise and minority shareholders in Crystal Palace, were among those who bid for Chelsea. Sir Jim Ratcliffe, the billionaire majority shareholder of chemical group Ineos and a United fan since childhood who has previously spoken to the Glazers about buying the club, failed with an offer for Chelsea that came two weeks after the deadline for new bids had passed.

There have been estimates in recent months that the Glazers – whose ownership has seen gradual decline on the pitch and triggered mass protests by fans – could seek as much as £8 billion or £9 billion for United but sources would only say: “This is a club that has enormous potential”.

“There’s a broader sense that, in a digital world and a world where there is lots of demand for attention, the value of sports assets have never been greater and will never be greater, particularly a global sports asset like Manchester United which is a very unique animal in the world,” the source said. “I think it’s much more than a football club.”

In an attempt solely to illustrate United’s global appeal, insiders cited Elon Musk’s recent $44 billion takeover of Twitter and how the company are estimated to have over 300 million monthly active users while pointing out that United have 1.1 billion followers worldwide, according to a survey commissioned by the club.

While those close to the process said they could not rule out a sudden approach and the situation accelerating quickly, and that there were not the same complications presented by the Chelsea deal, sources suggested it was unlikely at this stage that United would be presented with formal proposals before Christmas.

In their statement on Tuesday, United said they were exploring “strategic alternatives, including new investment into the club, a sale, or other transactions” in a move “designed to enhance the club’s future growth”.

The club said those strategic alternatives would 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”.

United are currently exploring plans to redevelop Old Trafford or build a new stadium on surrounding land and there is a possibility that any capital raised could be put towards funding such a project.

In a rare statement on Tuesday night, Joel and Avram Glazer, the United co-chairmen, said: “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers.

“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.

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

Manchester United Supporters Trust welcomed the news having previously been “dismayed with the ownership of the club”, though said any change within the boardroom of the club “has to be the right change”.

In a short statement, the supporters' group said: “At this moment in time our club needs new investment more than ever. That requires new ownership.

“Any prospective new owner or investor has to be committed to the culture, ethos and best traditions of the club.

“They have to be willing to invest to restore United to former glories, and that investment must be real new money spent on the playing side and the stadium.

“Finally any new ownership structure must embed supporters, including a degree of fan share ownership, in their operating model.”