The Glazer family have put Man Utd up for sale and their 18-year spell as owners of the club could come to an end this year.
Avram Glazer and Richard Arnold (Image: OLI SCARFF/AFP via Getty Images)
Man Utd chief executive Richard Arnold is confident attempts by the Glazers to seek new investment or sell the club will help fund redevelopment at Old Trafford and Carrington, as well as helping to ‘build a winning team’.
Arnold also insists United supporters will be at the heart of any takeover and he will be advising any prospective new investors of the value of engaging with fans.
The Glazer family have put the club on the market and their controversial 18-year reign as owners could come to an end. While they are open to new investment, there is a feeling the process is likely to lead to a full takeover at some point.
They have appointed The Raine Group to oversee the process and a sale could be in place before the end of this season. The American investment bank led the sale of Chelsea to the Todd Boehly-Clearlake Capital consortium.
Arnold gave an update on the search for new investment or buyers at a fans’ forum in December and said all options remained on the table.
“We can’t say a great deal beyond what we announced in our statement – that the club is conducting a strategic review to explore options for attracting new investment into the club, to enhance the club’s future growth opportunities,” he said.
“As part of this process, the board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the company. This will 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.
“When and in what form that investment comes remains uncertain, but I feel confident in saying it will be a positive process for the club because we all understand the capital needs that we have, in terms of redeveloping the stadium and training ground while continuing to build a winning team.”
Arnold did tell supporters that he would be urging new investors to keep communication with fans open. The fans’ forum has been strengthened in recent years amid regular protests against the ownership of the Glazer family at United games.
“What’s clear is that fans will be integral to the success of Man Utd under any ownership model, and we see this body as an important part of the club’s governance structure irrespective of what happens with the strategic review,” said Arnold.
“Certainly, we will be advising any prospective new investors on the value of the fan engagement processes we have built in recent years, and recommending that they continue to be strengthened.”
source: https://www.manchestereveningnews.co.uk/
