Two of the world’s biggest and most profitable soccer teams are on the market at the same time — and that’s no coincidence, according to analysts. In November, the owners of first Liverpool and then Manchester United confirmed they were open to new investment offers, with the potential for full sales of the top flight English clubs.

Liverpool’s owner, U.S. sporting conglomerate Fenway Sports Group, is thought to have put a roughly £3.3 billion ($3.97 billion) total value on the club, 12 years after acquiring it for £300 million. Goldman Sachs and Morgan Stanley have prepared a sales deck for interested parties, The Athletic first reported. Meanwhile New York-listed shares in Manchester United popped 18% on the news on Nov. 23 that its owners were similarly opening themselves up to investment opportunities. A full takeover of the club is expected to fetch £5 billion or more. The club’s majority owner, the American Glazer family, has had a tumultuous relationship with fans since gaining a controlling stake in 2005 for £790 million in a controversial, highly leveragedBeyond any personal motivations of the owners, “certain market factors will mean the timing of these sales is certainly not a coincidence,” Dan Harraghy, senior sports analyst at market research firm Ampere Analysis, told CNBC. Big money competition One recurring complaint Manchester United fans have had of the Glazers is a lack of investment in the club, across both facilities and players. But any future boost in funding comes among an ever-more competitive field from fellow Premier League clubs such as Manchester City — majority owned by Dubai royal Sheikh Mansour bin Zayed Al Nahyan — and Newcastle, acquired last year by an investment group led by the Saudi Arabian Public Investment Fund. “From a financial viewpoint, the current owners [of Liverpool and Manchester United] will be considering the level of investment that’s required to keep up with rival clubs who have owners with deeper pockets, both domestically and in Europe,” said Harraghy, also citing Qatari-owned Paris Saint Germain. “State-funded Middle Eastern owners allow the clubs to spend big on both the club’s infrastructure and acquisition of players to continue to improve their footballing and financial performance.”