Manchester United are up for sale, but the asking price of around £7 billion could put off prospective buyers.
The Glazer family announced last month that they would consider selling the club in a statement. They later announced that they won’t be taking any dividend payment out of the club this time around, while the latest figures show the club is close to having debt of £1 billion.
Despite protests from fans, the Glazers have been in power at United for 17 years. All thanks to a leveraged £790 million buyout in 2005.
As fans we are delighted by the news that they are entertaining a sale – but I don’t want to see the club priced into a market that excludes investors that understand what is required to run a club like Manchester United.
Investment firm Raine Group are advising the Glazers on the process and the Daily Mail believe they want between £6bn and £7bn for Manchester United. We know they will dance for the biggest bidder.
According to The Athletic, experts in London believe this price tag is unrealistic. Football Benchmark has valued United at around £2.425bn.
Furthermore, in a piece for The Times last month, Sir Michael Moritz said the prices being bandied around for United were unrealistic.
Manchester United Supporters’ Trust has issued a statement to potential investors, which Stretty News has co-signed.
This is a time of uncertainty for United fans. We will be happy to see the back of the Glazers, but I can’t help but feel cautiously optimistic about the future.
