As we reported last night, Manchester United could finally be sold by the Glazers after 17 years. Reports from Sky News revealed that the American owners were preparing to announce their intention to examine sources of outside investment, potentially including a full-blown auction.
The Glazers’ time in charge of the Red Devils has been dominated by fan protests and a decline in on-pitch performances, culminating in Cristiano Ronaldo’s recent interview in which he openly criticised the club and owners.
According to Sky News, sources revealed that United’s owners were instructing investment bankers to advise on the process.
🚨 According to Sky News, the Glazer family are exploring the possibility of selling Manchester United after their 17-year reign as owners 🔴pic.twitter.com/6Rpo54kQOp
And now, Manchester United’s owners have confirmed that selling the club is a possibility, as they seek to increase both its sporting and commercial success.
According to a statement, the board of directors was ‘commencing a process to explore strategic alternatives for the club’, with this including the potential for ‘new investment into the club, a sale, or other transactions’. The statement from the Glazers to the New York Stock Exchange confirmed earlier reports and revealed the club’s next steps.
The statement says: “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.
“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.”
Club statement on a process to explore strategic options for Manchester United.#MUFC
Executive Co-Chairmen and Directors, Avram Glazer and Joel Glazer added: “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 authorised a thorough evaluation of strategic alternatives.
“We will evaluate all options to ensure that we best serve our fans and that Manchester United maximises 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 statement continued: “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.”
Bosses at Next have announced it is to close 11 stores by the end of the year in the latest blow to the high street.
The retail giant said of the 11 stores set to close: six are not expected to hit their targets, two are down to their locations not being developed, and three are due to agreements not being reached with their current landlords.
However, the names and locations of the 11 stores have not yet been released. The news comes after the company closed its huge store inside Westfield Stratford City, in London.
Next plc
In a statement, Next Trading said: “We expect to close 11 mainline stores this year.
“Six closures are in locations where we forecast that the store would not achieve our target margin on almost any terms; two closures are due to the site being redeveloped; three further closures are as a result of being unable to agree acceptable new terms with landlords.
“This last category includes one large store where the length of the lease proposed by the landlord, on a high fixed rent charge, was not something we could agree to.”
Next plc
Since the start of the year, a number of high street chains have announced closures across the UK, including New Look, Boots, Asda Living, Wilko and Iceland.
Some of the closures have been down to a decrease in sales, as more and more households rein in their spending during the cost-of-living crisis. Others were simply down to business decisions.
Boots revealed this year that it plans to shut 300 of its stores while Sainsbury’s, the owner of Lloyds Pharmacy, shared that it will shut its pharmacy sites located within its supermarkets.
Robert Wade (Wadey) / Flickr
Homeware brand Habitat announced it will be closing its last three remaining stand-alone sites while its owner, Sainsbury’s, confirmed its customers were increasingly making purchases online rather than in-store.
Elsewhere, frozen foods supermarket Iceland has closed 11 of its sites though it has not made any announcements to confirm the closures.
The remaining 120 Wilko store closures and dates are yet to be announced.
Meanwhile, its rival stores B&M and Poundland have taken on a number of Wilko’s site to rebrand as their own. B&M has snapped up 51 sites and Poundland 71. The deals have not automatically saved Wilko staff working at these sites from job losses, though Poundland has said it will prioritise Wilko staff for job interviews.
Another competitor, The Range has also stepped in and bought the Wilko brand, website and intellectual property. This means it can now sell Wilko products within its stores but does not include any of its physical sites.
But punters don’t need to panic just yet, as the pubs won’t close until they have been sold.
Despite the closures Spoons has also opened branches, including The Square Peg in Birmingham and The Lord Palmerston in Southsea – after undergoing major refurbishments. The chain is also redeveloping pubs in Wakefield, central Cardiff and Glasgow, to the tune of around £8 million.
Wetherspoons currently boasts around 822 branches across the UK and recently announced its busiest-ever Saturday was during the Easter Bank Holiday weekend.
Cl1kr / Flickr
The 11 Wetherspoons pubs now up for sale:
The Pontlottyn, Abertillery
The Ivor Davies, Cardiff
Spa Lane Vaults, Chesterfield
The Gate House, Doncaster
The Market Cross, Holywell
The Regent, Kirkby in Ashfield
The Mockbeggar Hall, Moreton
The Hain Line, St Ives
The Sir Norman Rae, Shipley
The Sir Daniel Arms, Swindon
The White Hart, Todmorden
These are just the Wetherspoon locations recently announced to be closing by the chain, but there are dozens more that have already closed this year.
JD Wetherspoon
The list of Wetherspoon locations that have closed are:
Greater Manchester Police have issued an update on Ronald Webster, 81, who went missing from Oldham last Thursday.
The news comes after Ronald’s grandchildren made an appeal to the public asking for help to find their beloved grandad and to ‘keep him safe’ until they, or the police can get there.
It was believed the last sightings of the grandfather-of-five were at 10.52 am on Walkers Road, in Limeside, Oldham and again at 3.45pm as he got off the 184 at Huddersfield Bus Station, on September 14th.
Family submit / ITV
However, police have confirmed a new sighting of the pensioner, known by loved ones as ‘Ronnie’, just minutes later at 3.53pm, as he entered Huddersfield Train Station.
It is believed he may have links to the Bridlington, Whitby and Scarborough areas, although officers have said they are ‘not ruling out that he may have travelled elsewhere’.
Ronald’s family shared that he had recently undergone a triple heart bypass and had medication for his heart and for epilepsy, but that he had not taken any of his medicine with him when he went missing.
His grandchildren said that this is the first time he has not come home.
#MISSING | An update on Ronald. He was last seen at 15:53pm on 14/09/23 entering Huddersfield Train Station
He is 81, around 4'11, of small build and has grey hair around the back and sides, bald on top. He has a few gaps in his teeth
At the time of his disappearance, Ronald was wearing a blue and black coat with grey trousers.
He is described as 4’11 ins with grey hair around the sides, bald on top, and uses a walking stick.
In an update, a spokesperson for GMP said: “Since Ronald was reported missing, officers have been working closely with his loved ones to understand where he might have travelled to.
Greater Manchester Police
“It is believed he may have links to Bridlington, Whitby and Scarborough, although officers are not ruling out that he may have travelled elsewhere.
“Whilst officers are continuing to review CCTV from locations of significance, they are also working with colleagues from other forces to ensure everyone is on the lookout for Ronald so we can help him return to his family safe and well.”
Anyone with information about Ronald’s whereabouts should call 101 quoting 1013 of 16/09/2023.