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The Glazer family are open to selling Manchester United.

The American owners of Man Utd are willing to listen to offers for the club after a 17-year reign dominated by fan protests and declining on-pitch performance.

If the club - valued at around £5bn - is sold, it is expected to be purchased by US investors.

A Manchester United statement confirmed plans to identify "strategic alternatives" and said the process will consider a number of options "including new investment into the club, a sale, or other transactions involving the company".

Sky News had earlier exclusively revealed the Glazer family were preparing to announce their intention to examine potential sources of outside investment that could include a full-blown auction of arguably the world's most famous football club.

Manchester United's share price immediately rose by 17 per cent as a result, adding almost $400m (£336.4m) to the club's market capitalisation, according to football finance expert Kieran Maguire.