Manchester United Announces Process to Explore Strategic Alternatives to Enhance the Club's Growth
November 22 2022 - 4:30PM
Business Wire
Manchester United plc (NYSE:MANU), one of the most successful
and historic sports clubs in the world, announces today that the
Company’s Board of Directors (the “Board”) is commencing a process
to explore strategic alternatives for the club.
The process is designed to enhance the club's future growth,
with the ultimate goal of positioning the club to capitalize on
opportunities both on the pitch and commercially.
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.
Executive Co-Chairmen and Directors, Avram Glazer and Joel
Glazer 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 authorized a thorough evaluation of
strategic alternatives. 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. Throughout this process we will remain fully focused on
serving the best interests of our fans, shareholders, and various
stakeholders.”
The Raine Group is acting as the Company’s exclusive financial
advisor and Latham & Watkins LLP is legal counsel to the
Company.
Rothschild and Co. is acting as exclusive financial advisor to
the Glazer family shareholders.
There can be no assurance that the review being undertaken will
result in any transaction involving the Company. Manchester United
does not intend to make further announcements regarding the review
unless and until the Board has approved a specific transaction or
other course of action requiring a formal announcement.
About Manchester United
Manchester United is one of the most popular and successful
sports teams in the world, playing one of the most popular
spectator sports on Earth. Through our 144-year heritage we have
won 66 trophies, enabling us to develop the world’s leading sports
brand and a global community of 1.1 billion fans and followers. Our
large, passionate community provides Manchester United with a
worldwide platform to generate significant revenue from multiple
sources, including sponsorship, merchandising, product licensing,
new media & mobile, broadcasting and match day.
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Press Enquiries: Andrew Ward Manchester United +44 161
676 7770 Andrew.ward@manutd.co.uk
FOR ALL OTHER Enquiries PLEASE CONTACT: Joe Ravitch and
Colin Neville The Raine Group UK: +44 203 695 8633 / US: +1 (212)
603-5584 football@raine.com
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