Manchester United Announces Process to Explore Strategic Alternatives to Enhance the Club's Growth

Rhea-AI Summary

Manchester United plc (NYSE:MANU) has initiated a process to explore strategic alternatives aimed at enhancing future growth. The Board is considering various options, including new investments, potential sales, and other transactions. The focus will be on strengthening the club through stadium redevelopment and expanding commercial operations globally. Executive Co-Chairmen Avram and Joel Glazer emphasized their commitment to maximizing growth opportunities while serving fans and stakeholders. The Raine Group is advising the company, with no assurance that the review will lead to a transaction.

Positive

• Exploring strategic alternatives to enhance future growth.
• Consideration of new investments and potential sales.
• Focus on stadium redevelopment and global commercial expansion.

Negative

• No assurance that the review will result in a transaction.

MANCHESTER, England--(BUSINESS WIRE)-- Manchester United plc (NYSE:MANU), one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors (the “Board”) is commencing a process to explore strategic alternatives for the club.

The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially.

As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company. This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club’s commercial operations on a global scale, each in the context of enhancing the long-term success of the club’s men’s, women’s and academy teams, and bringing benefits to fans and other stakeholders.

Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer said, “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. 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 Raine Group is acting as the Company’s exclusive financial advisor and Latham & Watkins LLP is legal counsel to the Company.

Rothschild and Co. is acting as exclusive financial advisor to the Glazer family shareholders.

There can be no assurance that the review being undertaken will result in any transaction involving the Company. Manchester United does not intend to make further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring a formal announcement.

About Manchester United

Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 144-year heritage we have won 66 trophies, enabling us to develop the world’s leading sports brand and a global community of 1.1 billion fans and followers. Our large, passionate community provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, new media & mobile, broadcasting and match day.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221122005840/en/

Press Enquiries:

Andrew Ward

Manchester United

+44 161 676 7770

Andrew.ward@manutd.co.uk

FOR ALL OTHER Enquiries PLEASE CONTACT:

Joe Ravitch and Colin Neville

The Raine Group

UK: +44 203 695 8633 / US: +1 (212) 603-5584

football@raine.com

Source: Manchester United plc

FAQ

What is Manchester United exploring as part of its strategic alternatives?

Manchester United is exploring options such as new investments, a potential sale, and other transactions to enhance growth.

What role does the Raine Group play for Manchester United?

The Raine Group is acting as the exclusive financial advisor for Manchester United during the strategic review process.

Will Manchester United provide updates on the strategic alternatives process?

Manchester United does not intend to make further announcements unless the Board approves a specific transaction.

What is the goal of Manchester United's strategic alternatives review?

The goal is to position the club to capitalize on both on-pitch and commercial opportunities for future growth.

Who are the executives overseeing the strategic alternatives review for Manchester United?

The review is overseen by Executive Co-Chairmen Avram Glazer and Joel Glazer.