Donovan McNabb and the State of Football
Manchester United could be turning the corner to welcome a new owner.
A takeover of the Premier League team “could be coming very soon,” according to The Athletic. It was previously reported that the Raine Group intends to complete a sale in the first financial quarter of 2023.
The Glazer family, who purchased the team for around $1.5 billion in 2005, announced plans in November to explore strategic alternatives for the club following continued criticism — fans have protested what they see as misguided management and a lack of investment in the team and stadium.
- Manchester United was last valued at $4.6 billion by Forbes.
- The Glazers are reportedly looking for a price above $7.2 billion.
At the 2022 FIFA World Cup in Qatar, Avram Glazer told reporters that “it’s not necessarily a sale. It’s a process, and we’re going forward with the process so we’ll see what happens.”
Manchester’s Money
Earlier this month, Manchester United’s board opted not to distribute a dividend for fiscal 2023, a practice that’s been in place since 2016. The team was the only Premier League club to collect a dividend.
United earned $176.7 million in the third quarter, a 13.6% year-over-year increase, but also took a $32.6 million loss.
