The owners of Manchester United want to sell the club for a world record price, according to sources.
The Glazers said in a statement on Tuesday that they are looking at strategic alternatives.
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According to sources, a full takeover is the most likely outcome, although the Glazer family will only accept an offer that will make the club the most expensive in sports history.
When the Denver Broncos were sold earlier this year, they sold for over four billion dollars.
According to sources, the Glazers believe they can get offers in excess of $6 billion.
According to sources close to the process, the statement issued on Tuesday was deliberately vague as to not weaken the negotiating position.
The co-chairman is still heavily involved in the day-to-day running of the club, but other siblings think it's time to sell.
Avram said that the board went through a process and decided to look at different options.
We're going to look at all different strategic alternatives and see where it leads us.
According to sources, The Raine Group has not set a deadline for receiving offers for United and there is an expectation that many of them.
British billionaire Sir Jim Ratcliffe, a boyhood United fan who made an offer to buy Chelsea before the sale to Boehly, is yet to comment on the speculation.