Manchester United Ltd.
management publicly confirmed Tuesday that they are exploring potential financial investment in the club or an outright sale. While the English soccer club is publicly traded, the American family Glazer family owns the majority of the club and retains control. “As we seek to continue building on the Club’s history of success, the Board has authorized a thorough evaluation of strategic alternatives,” Executive Co-Chairmen Avram and Joel Glazer said in a statement Tuesday. “We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future.” Sky News reported that Manchester United would seek outside investment or a sale earlier Tuesday, sending shares in the club up more than 15% in intraday trading. The stock closed the day’s session up 14.7% at $14.94, and increased about 3% in after-hours trading following the public announcement.