Manchester United have confirmed reports that the Glazers are exploring the option of selling the Premier League club after 17 tumultuous years in charge.
The American owners have been repeatedly criticised by large sections of the club’s fanbase since purchasing the Old Trafford side for £790m in 2005.
A United statement on Tuesday night said that the club's Board was "commencing a process to explore strategic alternatives for the club," adding that the "process is designed to enhance the club's future growth".
The statement read: "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."
Co-Chairmen 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."
They continued: "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.”
News of a potential sale comes just hours after the Old Trafford club announced that Cristiano Ronaldo had left, after a mutual agreement was reached to terminate his contract.
Manchester United have suffered a major on-field decline since Sir Alex Ferguson departed in 2013.
The decorated Scot left the club as Premier League champions, but they haven’t won the title since, despite cycling through several managers in search of success.
Last season they failed to qualify for the Champions League, and on Tuesday Ronaldo departed following an explosive interview with Piers Morgan in which he criticised the running of the club.
Ronaldo claimed there had been “no evolution” since Ferguson left.
"Nothing had changed," he said.
"I love Manchester United. I love the fans, they're always on my side. But if they want to do it different… they have to change many, many things.
"[Ferguson] knows better than anybody that the club is not on the path they deserve to be."
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