Manchester United PLC (NYSE: MANU) has announced that the soccer team’s owners are weighing a potential sale. The team said it was commencing a process to explore strategic alternatives, including a new investment.
Apple is reportedly considering acquiring the club for approximately $7 billion, which would be its first purchase of any sports team.
It may also become the most expensive sale of any football club in history. Earlier this year, Chelsea Football Club was sold for approximately $5.1 billion.
Manchester United has been listed on the New York Stock Exchange since 2012, when the Glazer family sold 10% of its holding via the listing and has sold more shares since.
“As we seek to continue building on the club’s history of success, the board has authorized a thorough evaluation of strategic alternatives,” Avram Glazer and Joel Glazer, executive co-chairmen and directors of Manchester United, said in a statement.
The Glazers bought the club for $939.07 million in 2005.
Last season, United finished in sixth position, the team's worst Premier League campaign for points earned. As a result, Manchester United failed to qualify for the European Champions League.
Photo via Shutterstock.
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