The Glazer family are open to selling Manchester United.
The American owners are willing to listen to offers for the club they bought in a controversial leveraged buyout 17 years ago. If the club is sold, it is expected to be purchased by US investors.
A Manchester United statement confirmed plans to identify "strategic alternatives" and said the process will consider a number of options "including new investment into the club, a sale, or other transactions involving the company".
Sky News had earlier exclusively revealed the Glazer family were preparing to formally announce their intention to examine potential sources of outside investment that could include a full-blown auction of arguably the world's most famous football club.
Sources said on Tuesday investment bankers were being instructed by United's owners to advise on the process
Manchester United's share price immediately rose by 17 per cent as a result, adding almost $400m to the club's market capitalisation, according to football finance expert Kieran Maguire.
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