Joel Glazer (L) is in the ownership groups for the Tampa Bay Buccaneers and Manchester United. File Photo by Steve Nesius/UPI | License Photo
Nov. 23 (UPI) -- Manchester United started a process to "explore strategic alternatives," including a potential sale, the Premier League soccer franchise announced.
The Red Devils announced the move Tuesday night. The club's board of directors also said it will consider new investment into the club and stadium and infrastructure redevelopment, expanding commercial operations and bringing benefits to fans and other stakeholders.
"The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers," Red Devils owners Avram Glazer and Joel Glazer said in a news release. "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 Red Devils also said that there is "no assurance" that their review will result in any transaction.
The Glazers improved their stake in the Red Devils a majority share in 2005. The Red Devils won the Premier League in five of seven seasons from 2006-07 to 2012-13, but hasn't claimed another title since that run. The Red Devils finished third in 2019-20 and second in 2020-21.
They went 16-12-10 last season and sit in sixth place. The Red Devils are 8-4-2 in 2022-23 and sit in fifth place.
Soccer star Cristiano Ronaldo and the club also announced a "mutual" split earlier Tuesday. Ronaldo, 37, scored three times in six appearances this season for the Red Devils. He signed up for his second stint with the team in 2021. That pact was for two years, with a third-year option.
The Red Devils will face Cadiz in a friendly at 2 p.m. EST Dec. 7 in Cadiz, Spain.