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Manchester United fans celebrated with the news that the Glazers are open to selling the club after a rocky relationship with supporters during their 17 years in charge.
But United aren’t the only famous English club on the market with Liverpool’s owners, Fenway sports Group, which is also seeking to sell all or all of its stake in the six-time European champions.
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AFP is looking into the reasons why the two most successful clubs in English football history are being put up for sale:
stalemate in the Premier League
The Glazers and FSG were behind the failed bid for the European Premier League in 2021 which quickly collapsed amid an angry reaction from fans, governing bodies and politicians.
A gang of 12 leading European clubs sought to create a closed league format shared in American sport without promotion, relegation or the need to qualify every year as they currently do for the Champions League.
The idea was to further increase revenue from guaranteed matches against higher level opponents, while also controlling costs in an effort to make the clubs more profitable.
Barcelona, Real Madrid and Juventus pass through the stadiums in an attempt to finish the Premier League.
But with opposition to the project still fierce in England, it would be a hugely unpopular move for any Premier League holder to pursue.
Newcastle threat
Without the Super League, Champions League revenue is more important to Manchester United and Liverpool.
However, their place at the European football table is set to come under increasing threat due to the rise of Newcastle under the ownership of the Saudi Arabian sovereign wealth fund.
As the Premier League takes a mid-season break for Globalism Cup, neither United nor Liverpool are in the top four.
More than 12 months into a new era, Newcastle are third.
Both clubs have already been swayed by the wealth of the country as Abu Dhabi-backed Manchester City have supplanted their traditional rivals to become the dominant force in English football over the past decade.
For the fourth time in 10 years, United failed to qualify for the Champions League this season.
Liverpool is in the competition for the sixth season in a row, thanks to coach Jurgen Klopp’s turnaround in the Reds’ fortunes.
But before that, Liverpool had reached the Champions League only once in seven years.
Chelsea sale price
Despite a quick sale due to sanctions imposed on Roman Abramovich over his links to the Kremlin, Chelsea fetched a record £2.5 billion ($3 billion) price for a football club in May thanks to a bidding war.
It is worth noting that United’s owners have appointed Rennes, the same bank used in the Chelsea sale, to lead the new investment.
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With a much more glorious history than the Blues and a larger global fan base, United and Liverpool should fetch a higher price despite being based in the North West of England than London.
Analysts believe United could bring in up to £5bn for the club, which the Glazers bought for £790m in a leveraged buyout.
FSG is poised for a 10-fold increase on the £300m it spent acquiring Liverpool in 2010.
economic climate change
With interest rates rising in an attempt to quell inflation around the world, the burden of debt has become more difficult to bear.
United’s net loans swelled to £515m in the 2021/202 season.
The Glazers also recognized the need for significant capital expenditure to upgrade Old Trafford in their statement on the investment search.
Liverpool is undergoing a second expansion of the club’s stadium during the FSG period with the £80 million redevelopment of the Anfield Road stand.
On the pitch, Liverpool fans are also crying out for investment in new players after a dramatic drop in performances this season by an aging side.
With borrowings much more expensive than they have been for most of their time in English football, both the Glazers and FSG seem to have decided that now is the time to pay up.
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