Manchester United owners, the Glazer family, are aiming for a world record price for a sports franchise if they want to sell the club, sources told ESPN.
The Glazers issued a statement Tuesday saying they are evaluating “strategic alternatives,” including outside investment or a sale.
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Sources have told ESPN that a full takeover is the most likely outcome, although the Glazer family will only accept an offer that would make United the most expensive sports club ever.
Chelsea brought in £2.5 billion ($3.02 billion) and the Denver Broncos £3.85 billion ($4.65 billion) when they both sold earlier this year.
The latest Forbes valuation puts United at £3.8bn ($4.59bn) but sources have told ESPN the Glazers believe they have offers in excess of £6bn ($7.25bn ) can wear.
Sources close to the trial have told ESPN that Tuesday’s statement was intentionally vague so as not to weaken the Glazers’ negotiating position.
While co-chairman Joel Glazer is still heavily involved in the day-to-day running of the club, other Glazer siblings have “different strategies” and believe it’s the right time for a sale.
Co-Chairman Avram Glazer told Sky News on Wednesday: “As we have announced, the Board has gone through a process and decided that it will examine various strategic alternatives and that is exactly what we are doing.
“We’ve been through a process, we’re going to look at all the different strategic alternatives and see where that takes us.”
Sources have told ESPN that Raine Group, who were named as the Glazers’ “exclusive financial advisors” after handling the sale of Chelsea to LA Dodgers part owner Todd Boehly and his consortium, have not set a deadline for receiving offers for United and there is an expectation that many of the same parties that participated in the Chelsea purchase process will express interest.
British billionaire Sir Jim Ratcliffe, a childhood United fan who made a bid to buy Chelsea before selling it to Boehly, has yet to comment on speculation he could be among the bidders.
https://www.espn.com/soccer/manchester-united-engman_utd/story/4812292/man-united-for-sale-glazers-seek-world-record-fee Glazers seek world record fee