Manchester United PLC MANU has announced that the football team’s owners are considering a possible sale. The team said it was beginning an investigation process strategic alternatives, including a new investment.

On Thursday it was time reported the apple inc AAPL is interested in buying the football team. MANU stock rose over 12% during a shortened trading session on Friday.

Apple is reportedly considering acquiring the club for about $7 billion, which would be its first ever purchase of a sports team.

It could also become the most expensive sale of a football club in history. Earlier this year, Chelsea Football Club was sold for about $5.1 billion.

Also read: This is how much Manchester United shares could be worth in a possible sale

Manchester United has been listed on the New York Stock Exchange since 2012, when the Glazer family sold 10% of their stake through the listing and has since sold additional shares.

“As we look to continue to build on the club’s track record, the Board has authorized a thorough evaluation of strategic alternatives.” Avram Glaser and Joel Glaservice presidents and directors of Manchester United, in a statement.

The Glazers bought the club in 2005 for $939.07 million.

United finished last season in sixth place, the team’s worst season in the Premier League in terms of points accumulated. As a result, Manchester United failed to qualify for the European Champions League.

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