Manchester United Football Club could finally be sold by its American owners after a 17-year reign dominated by fan protests and declining on-pitch performance.
Sky News can exclusively reveal that the Glazer family is preparing to formally announce its 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 that investment bankers were being instructed by Manchester United‘s owners to advise on the process, which is likely to include a full or partial sale, or strategic partnership with third parties.
A statement confirming their intentions could come imminently, one of them said.
The announcement of a review of financial options that could include a sale process would signal an end to years of speculation over whether the Glazers might be persuaded to offload a club which for the past decade has experienced an almost-unmitigated footballing decline.
The Old Trafford side has not won the Premier League title since 2013, and has sacked a succession of managers in the aftermath of the retirement of Sir Alex Ferguson.
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More recently, the club has become embroiled in a bitter legal fight with Cristiano Ronaldo, its best-known player, over an interview in which he questioned United’s ambition and lambasted the Glazers’ approach to owning it.
On Tuesday, United announced that Mr Ronaldo had left “with immediate effect”.
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It remains possible that the family, which took control of United in 2005 in a £790m deal largely funded by debt, opt not to sell.
A partial sale to new investors, with capital being raised to fund an overdue redevelopment of Old Trafford, is one potential outcome from the process.
Image: Manchester United fans protest ahead of the Liverpool match at Old Trafford in August 2022
The Glazers have acknowledged the need for new infrastructure investment to transform the stadium into a genuinely world-class venue, while substantial funds are also required to enable the men’s team to compete once more at the top of the European game.
If United was sold outright, it would be the latest top-flight club to change hands, after Roman Abramovich agreed a £2.5bn sale of Chelsea to a consortium led by the American businessman Todd Boehly earlier this year.
United’s valuation in a sale would inevitably exceed the roughly $2.15bn market capitalisation implied by its share price during Tuesday’s trading session on the New York Stock Exchange.
Reports in recent months have speculated that any transaction would need to value the club at anywhere between £5bn and £9bn to persuade the owners to sell.
The Glazers listed a minority stake in the company in 2012 but retained overwhelming control through a dual-class share structure which means they hold almost all voting rights.
For more than 18 months, the club has been promising to introduce a modestly sized supporter ownership scheme that would give fans shares with the same structure of voting rights as the Glazers.
The initiative has, however, yet to be launched despite a pledge to have it operational by the start of the 2021-22 season.
It was one of a number of commitments made by Joel Glazer, United’s co-chairman, in the wake of the European Super League (ESL) debacle, in which the club played a pivotal role.
Manchester United was one of six Premier League teams to agree to join the project, which collapsed within hours of its official launch amid public and political acrimony.
In May 2021, Red Devils fans forced the postponement of a home match against rivals Liverpool after protesting against the ESL and the Glazer family.
“Love United, Hate Glazers” has become a familiar refrain during their tenure, with supporters critical of a perceived lack of investment in the club’s infrastructure while the owners have extracted hundreds of millions of pounds-worth of dividends as a result of its continued commercial success.
If a formal sale process is initiated, attention will turn to the identities of potential buyers.
Sir Jim Ratcliffe, the Ineos billionaire who has supported United since childhood, said in August that he was keen to buy the club but has since suggested that English football’s elite names are overvalued.
Billionaires from around the world will be linked to bids, as will sovereign investors seeking to emulate the kinds of takeovers seen at Newcastle United – now owned by Saudi state-backed investors – and Paris St Germain, which is Qatari-owned.
There will also be speculation that the Red Knights, a consortium led by former United director and leading economist Lord O’Neill, could revive an attempt initiated in 2010 to take control of the club.
Significantly, the prospective auction of Manchester United comes as Fenway Sports Group, the owner of Liverpool, also weighs selling all or part of the Anfield club.
Simultaneous sale processes for two of English football’s so-called ‘big six’ – the others being Arsenal, Chelsea, Manchester City and Tottenham Hotspur – would be unprecedented.
One analyst said the timing suggested that some investors believed the value of top clubs could be approaching its peak, especially against a backdrop of tough global economic forecasts for the coming years.
United’s announcement is also likely to be made during a World Cup fuelled by Gulf petrodollars, underlining the shifting financing of the global football industry.
Hundreds of UK online safety workers at TikTok have already signed agreements to leave the company, whistleblowers have told Sky News, despite the firm stressing to MPs that the cuts were “still proposals only”.
More than 400 online safety workers have agreed to leave the social media company, with only five left in consultation, Sky News understands.
“[The workers have] signed a mutual termination agreement, a legally binding contract,” said John Chadfield, national officer for the Communication Workers’ Union.
“They’ve handed laptops in, they’ve handed passes in, they’ve been told not to come to the office. That’s no longer a proposal, that’s a foregone conclusion. That’s a plan that’s been executed.”
Image: Moderators gathered to protest the redundancies
“Everyone in Trust and Safety” was emailed, said Lucy, a moderator speaking on condition of anonymity for legal reasons.
After a mandatory 45-day consultation period, the teams were then sent “mutual termination agreements” to sign by 31 October.
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Sky News has seen correspondence from TikTok to the employees telling them to sign by that date.
“We had to sign it before the 31st if we wanted the better deal,” said Lucy, who had worked for TikTok for years.
“If we signed it afterwards, that diminished the benefits that we get.”
Image: Three former moderators at TikTok have spoken to Sky News on camera
Despite hundreds of moderators signing the termination contracts by 31 October, Ali Law, TikTok’s director of public policy and government affairs for northern Europe, said to MPs in a letter on 7 November: “It is important to stress the cuts remain proposals only.”
“We continue to engage directly with potentially affected team members,” he said in a letter to Dame Chi Onwurah, chair of the science, innovation and technology committee.
After signing the termination contracts, the employees say they were asked to hand in their laptops and had access to their work systems revoked. They were put on gardening leave until 30 December.
“We really felt like we were doing something good,” said Saskia, a moderator also speaking under anonymity.
“You felt like you had a purpose, and now, you’re the first one to get let go.”
Image: TikTok moderators and union workers protested outside the company’s London headquarters in September
A TikTok worker not affected by the job cuts confirmed to Sky News that all of the affected Trust and Safety employees “are now logged out of the system”.
“Workers and the wider public are rightly concerned about these job cuts that impact safety online,” said the TUC’s general secretary, Paul Nowak.
“But TikTok seem to be obscuring the reality of job cuts to MPs. TikTok need to come clean and clarify how many vital content moderators’ roles have gone.
“The select committee must do everything to get to the bottom of the social media giant’s claims, the wider issues of AI moderation, and ensure that other workers in the UK don’t lose their jobs to untested, unsafe and unregulated AI systems.”
Image: Moderators and union representatives outside TikTok’s offices
When asked if the cuts were in fact a plan that had already been executed, Mr Law said there was “limited amounts” he could directly comment on.
TikTok told us: “It is entirely right that we follow UK employment law, including when consultations remained ongoing for some employees and roles were still under proposal for removal.
“We have been open and transparent about the changes that were proposed, including in detailed public letters to the committee, and it is disingenuous to suggest otherwise.”
The three whistleblowers Sky News spoke to said they were concerned TikTok users would be put at risk by the cuts.
The company said it will increase the role of AI in its moderation, while maintaining some human safety workers, but one whistleblower said she didn’t think the AI was “ready”.
“People are getting new ideas and new trends are coming. AI cannot get this,” said Anna, a former moderator.
“Even now, with the things that it’s supposed to be ready to do, I don’t think it’s ready.”
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12:04
Is TikTok improving safety with AI?
Lucy also said she thought the cuts would put users at risk.
“There are a lot of nuances in the language. AI cannot understand all the nuances,” she said.
“AI cannot differentiate some ironic comment or versus a real threat or bullying or of a lot of things that have to do with user safety, mainly of children and teenagers.”
TikTok has been asked by MPs for evidence that its safety rates – which are currently some of the best in the industry – will not worsen after these cuts.
The select committee says it has not produced that evidence, although TikTok insists safety will improve.
“[In its letter to MPs] TikTok refers to evidence showing that their proposed staffing cuts and changes will improve content moderation and fact-checking – but at no point do they present any credible data on this to us,” said Dame Chi earlier this month.
“It’s alarming that they aren’t offering us transparency over this information. Without it, how can we have any confidence whether these changes will safeguard users?”
Image: Dame Chi Onwurah speaks at the House of Commons. File pic: Reuters
TikTok’s use of AI in moderation
In an exclusive interview with Sky News earlier this month, Mr Law said the new moderation model would mean TikTok can “approach moderation with a higher level of speed and consistency”.
He said: “Because, when you’re doing this from a human moderation perspective, there are trade-offs.
“If you want something to be as accurate as possible, you need to give the human moderator as much time as possible to make the right decision, and so you’re trading off speed and accuracy in a way that might prove harmful to people in terms of being able to see that content.
“You don’t have that with the deployment of AI.”
As well as increasing the role of AI in moderation, TikTok is reportedly offshoring jobs to agencies in other countries.
Sky News has spoken to multiple workers who confirmed they’d seen their jobs being advertised in other countries through third-party agencies, and has independently seen moderator job adverts in places like Lisbon.
Image: John Chadfield, national officer for technology at the Communication Workers Union
“AI is a fantastic fig leaf. It’s a fig leaf for greed,” said Mr Chadfield. “In TikTok’s case, there’s a fundamental wish to not be an employer of a significant amount of staff.
“As the platform has grown, as it has grown to hundreds of millions of users, they have realised that the overhead to maintain a professional trust and safety division means hundreds of thousands of staff employed by TikTok.
“But they don’t want that. They see themselves as, you know, ‘We want specialists in the roles employed directly by TikTok and we’ll offshore and outsource the rest’.”
Mr Law told Sky News that TikTok is always focused “on outcomes”.
He said: “Our focus is on making sure the platform is as safe as possible.
“And we will make deployments of the most advanced technology in order to achieve that, working with the many thousands of trust and safety professionals that we will have at TikTok around the world on an ongoing basis.”
Asked specifically about the safety concerns raised by the whistleblowers, TikTok said: “As we have laid out in detail, this reorganisation of our global operating model for Trust and Safety will ensure we maximize effectiveness and speed in our moderation processes.
“We will continue to use a combination of technology and human teams to keep our users safe, and today over 85% of the content removed for violating our rules is identified and taken down by automated technologies.”
*All moderator names have been changed for legal reasons.
A 3.3-magnitude earthquake has struck Lancashire – with dozens of people saying it shook their homes or woke them up.
The British Geological Society (BGS) told Sky News it was “felt across the South Lakes and Lancashire, mainly within 20km of the epicentre”, including Kendal and Ulverston in neighbouring Cumbria.
Preliminary data suggests it struck off the coast of Silverdale at 11.23pm, at a depth of 1.86 miles (3km).
Each year, between 200 and 300 earthquakes are detected and located in the UK by the BGS.
Between 20 and 30 earthquakes are felt by people each year, and a few hundred smaller ones are only recorded by sensitive instruments.
Most of these are very small and cause no damage.
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This is the second time elections are being delayed in these areas. Local elections due in May 2025 weredelayedby then communities secretary Angela Rayner for a year in order to convert them into combined authorities led by mayors.
However, it is understood that these councils need more time to complete their reorganisation.
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4:53
Will Tories and Reform unite?
The news has sparked accusations Labour are delaying the elections for political purposes.
Reform UK’s head of policy Zia Yusuf said: “This is a blatant attempt to stop big Reform wins next May.
“It’s an act of a desperate government who are clinging onto power by any means necessary.
“Labour has proven time and time again that they’re not beyond denying democracy to millions of people in order to maintain their cosy status quo.”
Image: Pic: PA
The Tories’ shadow housing secretary James Cleverly said it was a “scandalous attempt to subvert democracy by a Labour government whose credibility and popularity are already in tatters”.
“The Conservatives firmly oppose this decision to delay the mayoral elections, especially when candidates have been selected and campaigning is well under way,” he added.
“Democracy is being denied yet again after the council elections cancelled by Labour this year.
“There is no credible justification for this move. The Labour government must reverse it immediately.”
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The government wants to abolish the two-tier system of county and district councils and merge them together to create larger unitary authorities. It also wants more areas to have regional mayors, like Greater Manchester’s Andy Burnham.
Reform UK enjoyed success in the local elections in May, winning more than 600 seats and taking control of 10 councils stretching from Kent to County Durham. The party also toppled a 14,000-strong Labour majority in a parliamentary by-election.
The Liberal Democrats’ local government spokesperson Zoe Franklin called the postponed elections “a disgrace”.
“Democracy delayed is democracy denied,” she added. “We are fighting to end this blatant stitch up between Labour and the Conservatives over local elections.”