Manchester United owners, the Glazer family, could finally sell the club after 17 years in charge.
According to Sky Sports, this is because of fan protests and declining performances on the pitch.
The Glazer family is expected to formally announce its intention to examine potential sources of outside investment, which could include a full-blown auction.
Sources have claimed investment bankers were being instructed to advise on the process, which is likely to include a full or partial sale, or strategic partnership with third parties.
Manchester United’s share price immediately rose by 17% as a result, adding almost $400m to the club’s market capitalisation, according to football finance expert Kieran Maguire.
This news comes on the same day the club terminated Cristiano Ronaldo’s contract.
The club has decided to part ways with the 37-year-old following his explosive interview with Piers Morgan, in which he criticized the club and manager Erik ten Hag.
(CDA NEWS)
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