Manchester United's American owners confirmed Tuesday they would consider putting the iconic Premier League club up for sale, AP reports.

United said the Glazer family was exploring outside funding to enhance growth — a move that could pave the way to a potential buyout.“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,” it said in a statement.

American investment bank the Raine Group has been enlisted to handle any sale or fresh investment.Raine earlier this year handled the sale of Premier League club Chelsea to Todd Boehly and Clearlake Capital, successfully securing 2.5 billion pounds ($3 billion) plus a commitment of 1.75 billion pounds ($2 billion) of further investment.

While there is no guarantee the Glazers will cede complete control of United, the news will provide hope to the team’s supporters who have long-campaigned to drive out the American family, which also owns the NFL’s Tampa Bay Buccaneers.

The late tycoon Malcolm Glazer bought United in 2005 for 790 million pounds (then about $1.4 billion) amid a backlash from fans.

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