Ex-CEO Ed Woodward stands to make £1.5m windfall from sale
Ed Woodward – the former executive vice-chairman of Manchester United who left in 2021 after the European Super League debacle – stands to make a £1.5m windfall from sale
- Ed Woodward was a divisive figure after nine years running business operations
- He retained a minor shareholding in the club that will provide him with a windfall
- Woodward was the subject of protests over issues including transfer dealings
Ed Woodward, the former Manchester United executive vice-chairman, stands to make around £1.5million from the club’s sale.
Woodward left United in 2021 following the European Super League debacle. He was regarded as a divisive figure among fans after nine years running their business operations.
However, he retained a minor shareholding in the club that will provide him with a seven-figure windfall once the sale is completed.
Woodward, who was the subject of violent fans’ protests over issues including transfer dealings and United’s lack of success, is the only individual outside of the Glazer family to own a ‘B’ share in the club.
Each ‘B’ share grants its owner 10 votes. They make up 67 per cent of the club’s total shareholding. Woodward owns 0.05 of one B share, which could be worth £1.5million if the club is sold for £4.5billion.
Woodward left United in 2021 following the European Super League debacle
British billionaire Jim Ratcliffe was one of the confirmed bidders before the deadline
Meanwhile, Nick Train, the prominent financier whose London-based investment fund also owns stakes in Juventus and Celtic, is poised for a £312million windfall. Sheikh Jassim bin Hamad Al Thani, the chairman of one of Qatar’s biggest banks, lodged a bid for United in the region of £4.5billion on Friday, as Sportsmail had predicted would happen.
British billionaire Jim Ratcliffe was the other confirmed bidder before the deadline, with his offer said to be £4billion. It was reported on Saturday that the American hedge fund Elliott had also lodged last-minute interest. It has not been revealed if there are other bidders, but the final price could rise above the known offers.
Joel Glazer owns the most B shares, with 19.11 per cent, which could give him £573million from a £4.5billion sale. His sister Darcie’s ‘B’ shareholding is 18.15 per cent while the rest is divided among brothers Bryan (17.23 per cent), Avram (17.23 per cent), Kevin (13.77 per cent) and Edward (12.99 per cent). Joel and Avram, who are involved in the daily running of the club, are said to be less keen on a sale than their siblings and may hold out for a higher price
The remaining ‘A’ shares, which offer one vote each, are listed on the New York Stock Exchange. The largest holder is Lindsell Train, the London-based investment firm, with 20.85 per cent, worth £312million of a £4.5billion sale. Run by Train, one of the City’s most successful and highly paid fund managers, the company is also the largest shareholder in Juventus outside of the Agnelli family. It has a 6.95 per cent share in the Serie A club.
Lindsell Train, whose investments in football clubs is unusual among British investment funds, also hold a stake in Celtic.
The next biggest ‘A’ shareholders in United are the American asset management firm Ariel Investments (16 per cent) and Massachusetts Financial Services (6.49 per cent).
Marathon Asset Management, another London-based firm, owns 4.47 per cent.
Joel Glazer (C) owns the most B shares, with 19.11 per cent, which could give him £573million from a £4.5billion sale
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