English Premier League club Manchester United looks set to be up for sale in the near future following a statement by the club about the board’s willingness to listen to offers as part of strategic alternatives for it’s progress

A Manchester United statement on Wednesday confirmed that plans are afoot to identify “strategic alternatives” and said they will begin the process to consider a number of options “including new investment into the club, a sale, or other transactions involving the company”.

Executive co-chairmen and directors Avram Glazer and Joel Glazer said: “The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. As we seek to continue building on the club’s history of success, the Board has authorised a thorough evaluation of strategic alternatives.”

The statement continues; “We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the club today and in the future.

“Throughout this process, we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”

This latest development comes the same day as the club officially released star player Cristiano Ronaldo from his deal by mutual consent after a tumultuous second stint.

The deal possible sales of the club would be the latest in a string of internal instability by the English football juggernaut which has seemingly been on a consistent decline both on and off the field over the past decade.

The sale of the club would be the second major change of ownership by EPL powerhouse in recent times following the summer £4 billion sale of Chelsea by former owner Roman Abrhamovic  as a result of the government-imposed sanctions on Russian-owned assets in the UK.

While the official figure has been suggested, several reports value the club at an estimated £5 billion.