Manchester United's owners the Glazer family will explore a sale of the club as part of a process aimed at enhancing the club's future growth.
The club confirmed on Tuesday it is "commencing a process to explore strategic alternatives".
A statement from Manchester United PLC read in part: "The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalise on opportunities both on the pitch and commercially.
"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.
"This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club's commercial operations on a global scale, each in the context of enhancing the long-term success of the club's men's, women's and academy teams, and bringing benefits to fans and other stakeholders."
United also confirmed The Raine Group, which oversaw the sale of Chelsea by Roman Abramovich, is acting as the company's exclusive financial advisor and Latham & Watkins LLP is legal counsel to the company.
Meanwhile, Rothschild and Co. is the exclusive financial advisor to the Glazer family shareholders.
United fans have long since called for the Glazers to sell, angered by the club's apparent lack of direction and distinct struggles in replicating past glories under Alex Ferguson.
The Red Devils have not won the Premier League since the 2012-13 season and have not won a trophy of any kind since their 2016-17 EFL Cup and Europa League double with Jose Mourinho at the helm.
United also attracted significant ire by initially agreeing to join a breakaway group of major continental clubs aiming to form a European Super League in 2021, with the widespread backlash leading to the plans being scrapped.
The club stressed, however, that Tuesday's announcement does not necessarily mean the end of the Glazer era.
"There can be no assurance that the review being undertaken will result in any transaction involving the company. Manchester United does not intend to make further announcements regarding the review unless and until the board has approved a specific transaction or other course of action requiring a formal announcement," the statement concluded.
Van Dijk and De Jong leave Netherlands squad on 'medical grounds'
Virgil van Dijk and Frenkie de Jong have left the Netherlands’ squad ahead of their final Nations League game on "medical grounds".
Both players featured in the Oranje's 4-0 victory over Hungary on Saturday, a match which confirmed their place in the quarter-finals.
Van Dijk, who has been an ever-present for Liverpool in the Premier League this season, played the full 90 minutes in Amsterdam but will return to his club for further assessment.
De Jong, meanwhile, returned to the Netherlands line-up for the first time since September 2023 in that victory, having missed the previous 18 international matches due to injuries.
The Barcelona man was taken off after 68 minutes, and had confirmed after the game that he would not be featuring on Tuesday, but has now opted to return to Spain instead of staying with the national squad.
"For both Frenkie and Virgil, it is better for them to leave the training camp at this moment. That decision was taken on medical grounds, with of course, the interest of the players coming first," Koeman is quoted as saying on the Netherlands' X account.
The Netherlands will finish second in Group A3, with their result against already relegated Bosnia-Herzegovina unable to affect the standings.
Real Madrid 0-4 Barcelona: Guijarro brace sets visitors up for Clasico glory
Patri Guijarro's first-half brace set Barcelona on their way to a thumping 4-0 win over rivals Real Madrid in Liga F on Saturday.
Claudia Pina and Alexia Putellas were also on target as Barcelona continued their perfect start to the season, extending their lead at the top of the table.
The visitors dominated from the off, as Guijarro broke the deadlock inside the fourth minute, tapping in from Putellas' flick-on from a corner.
Cata Coll was forced into a big save to deny Alba Redondo an equaliser shortly after, but Madrid's hope was soon dented as Guijarro picked out the bottom corner with a superb long-range strike for her second.
Pina strengthened their lead six minutes before the break, clinically slotting past Misa with her low strike.
Putellas added some more gloss to the scoreline with four minutes remaining of normal time, beating the Madrid keeper with a lovely dink to bring up her 199th goal for the club.
Barcelona have won all 10 of their games, and now sit eight points clear of Madrid, who suffered their first league defeat of the campaign.
Data Debrief: Total dominance
Madrid will have felt fairly confident coming into this game after a strong start to their season, but they once again failed to find a way past their Clasico rival.
Los Blancos have lost every single game they have played against Barcelona in all competitions, with this their 15th such meeting.
Barcelona smothered their attack early on, restricting their hosts to just one shot in the first half, while they had 10.
Amorim wants Man Utd players to be inspired by club's history
Ruben Amorim wants his Manchester United players to be inspired by the club's history as he bids to bring a winning mentality back to Old Trafford.
Amorim, taking over at the Premier League club following the departure of Erik ten Hag, was speaking in his first interview with the club after a tour of their home venue.
The Portuguese tactician had visited Old Trafford earlier in the week and met a group of supporters, as well as the women's team's vice-captain, England star Ella Toone.
"When you come [to Old Trafford], it's so different. You see the trophies, you see the tragedy that we have as a club. The history," said Amorim.
The 39-year-old added the manner in which the club defied the odds to succeed under Matt Busby after the Munich air disaster in 1958 should be a particular source of inspiration.
"This kind of strength, I think it's important to put in our team. When the players come here, they should take the stadium tour all the time. I think this is very important to do," Amorim said.
"It's normal if you go a lot of years without winning, you start losing that feeling. So I think we need to put all the players doing the same thing, to regain that feeling.
"We haven't won the Premier League for a long time. But if you ask, United is the biggest club in England.
"So this is part of history, it is not now. So we have to address that, to show that and to try to win again."
Asked what his footballing philosophy is, the former midfielder said it all comes down to being a team.
"The team is the most important thing for me. And if you work as a team, then the talent individually is going to shine," he said.
"But if I have to explain the importance of everything, it is the character, the way we fight, the way we play, and we must have an identity.
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