According to multiple reports, the family that has owned Manchester United since 2005 is exploring a sale of the club that may include giving up its controlling share.
The logo of Manchester United is seen in Turkey. The photo was taken by Aytac Unal/ Anadolu.
Sky News reported that the family contacted investment bankers to explore a partial sale or full-blown auction of the club.
A small portion of the organization is traded on the New York Stock Exchange, but the majority of voting power is held by the family.
Manchester United's stock rose more than 13 percent on the news to close at 14.94 Tuesday afternoon.
Forbes asked for comment from the club, but they didn't reply immediately.
Manchester United is the third most valuable soccer club in the world, according to our estimates. The family is valued at $4.7 billion.
Manchester United has won the English top division 20 times and the European Cup three times, making it one of the most storied soccer clubs in the world. The team's performance has declined under the ownership of the Glazers, and fans accuse them of neglecting the club's performance in favor of their personal finances. Manchester United haven't won a trophy since the FA Cup in 2016 and haven't won a league title in five years. Manchester City's emergence as a new powerhouse in English soccer has angered fans.
After he berated team management in an interview with Piers Morgan last week, the owners of Manchester United decided to cut ties with the star player.
The owners of Manchester United are looking to sell.
The man will leave the club by mutual consent.
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