The Raine Group, Manchester United 's exclusive financial advisors over a potential sale of the club, have set an asking price below the figures initially quoted as the Glazer family prepare for offers.
United's owners have been at the helm since 2005, but issued a statement in November indicating they would be open to investment or a full sale. However, the £9billion price tag they reportedly slapped on the club is far more than the £6bn to £7bn set by Raine Group.
Fellow Premier League side Chelsea were sold for £2.5bn at the tail end of the 2021-22 season, with new owner Todd Boehly also committing to investment in the club after taking over from Roman Abramovich. In that case, there were a number of bidders in the race for the Blues and it remains to be seen how much interest there is in United at the prices quoted.
According to The Athletic, Raine Group's valuation comes with a goal of completing a sale in the first quarter of 2023. Even the £6bn to 7bn sum "far surpasses reality," according to some City of London sources cited by the publication.
Football Benchmark, meanwhile, have indicated the true value of the club is in the vicinity of just £2.4bn. "The gap between the rumoured transaction price and the theoretical value of Manchester United FC appears enormous," Andrea Sartori, the Football Benchmark chief executive, said.
The Athletic also notes that Raine Group is not expected to work to as tight a deadline as that put in place for the Chelsea sale. Early 2023 remains a target, but does not appear to be a rigid cut-off point.
Is a £6bn+ sale realistic for Man Utd? Have your say in the comments section.
"Manchester United plc, one of the most successful and historic sports clubs in the world, announces today that the Company’s Board of Directors is commencing a process to explore strategic alternatives for the club," United's November statement read. "The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalise 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."
"There can be no assurance that the review being undertaken will result in any transaction involving the Company," the statement also explained. "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."
