(Bloomberg) — The Glazer family would consider selling a minority stake in Manchester United FC, people familiar with the matter said, as pressure mounts on…
The owners have held some preliminary discussions about the possibility of bringing in a new investor, the people said, asking not to be identified because the information is confidential. The American Glazer family is not yet ready to cede control of Manchester United, which could be valued at about £5 billion , the people said.
Shares in Manchester United rose as much as 7.6% in early trading in New York on Wednesday. The stock was up 4% at 9:38 a.m, giving the company an equity market value of $2.2 billion.Article content The club would likely attract a host of big-name investors, similar to EPL team Chelsea FC, which was recently sold to American billionaire Todd Boehly and private equity firm Clearlake Capital in a £4.25 billion deal. Such is the global reach of Manchester United that Tesla Inc. Chief Executive Officer Elon Musk tweeted he was buying the club earlier on Wednesday, before clarifying he was joking.
To make matters worse, their dominance of English football has shifted to crosstown rivals Manchester City FC, which has won multiple honours since being taken over by Abu Dhabi investors in 2008..A perceived lack of investment in Manchester United’s infrastructure, including its Carrington training ground and famous Old Trafford stadium, and frustration over poor recruitment strategy have compounded the ill will toward the Glazers.
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