Ronaldo without a club: Manchester terminated his contract 0:59
(CNN) --
The owners of Manchester United have announced their intention to explore the possible sale of the iconic club.
In a statement issued on Tuesday, the club said it had begun a "process to explore strategic alternatives." Those alternatives could include a full sale of Manchester United by the Glazer family, which took control of the club in 2005.
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Manchester United's statement states: "As part of this process, the board will consider all strategic alternatives, including a new investment in the club, a sale or other transactions involving the company."
It should be noted that the statement does not take the sale of the club for granted.
"There can be no guarantee that the review being conducted will result in a transaction involving the company," according to the statement.
The statement quotes Avram and Joel Glazer: "As we seek to continue to build on the club's success story, the board has authorized a comprehensive evaluation of strategic alternatives."
And they continue: “We will evaluate all options to ensure that we better 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."
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The club confirmed that the Raine Group is acting as financial adviser to the Glazer family, while Latham and Watkins LLP is the company's legal adviser.
Rothschild and Co. acts as financial adviser to the family's shareholders.
Manchester United is a rarity in the world of sports and finance.
It is one of the few major publicly traded sports franchises.
But there are a few others: Shares in two of United's main rivals are publicly traded on European stock exchanges: Germany's Borussia Dortmund is listed in Frankfurt, while Italy's Juventus is listed in Milan.
According to Forbes, Manchester United is the third most valuable soccer club in the world at $4.6 billion, behind only Spanish giants Real Madrid and Barcelona.
manchester united sale