Man Utd’s leading shareholder behind Glazers has had crunch talks since ESL saga
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Manchester United’s leading shareholder outside of the Glazer family has voiced his “disappointment” over the “reputational damage” done to the club in the wake of the failed European Super League project.
United were one of 12 clubs that announced their intention to join the breakaway league, only to complete a dramatic U-turn just 48 hours after its launch following a significant backlash from supporters.
Nick Train’s Lindsell Train UK, which owns the equivalent of 7% of the Red Devils and holds 27% of United’s A-shares on the New York Stock Exchange, has issued an update to their investors.
The update read: “The announcement of the breakaway European Super League in April came as a surprise to us.
“In response, we requested and have now had meetings with all three clubs [including Celtic].
“At these meetings we expressed our disappointment about the reputational damage Juventus and Manchester United have inflicted on themselves. We asked for clarity about their position regarding the ESL going forward.
“We urged them to return to respectful negotiations with all members of the football community to work toward mutually beneficial ends.
“We continue to monitor events closely as they unfold, while considering their implications for our investment case.”
Lindsell Train UK also own 11.3% of shares in Juventus on the New York Stock Exchange, and shares in Celtic, hence both of their inclusions in the update.
United’s share price rose from $16.17 to $17.23 in the wake of the European Super League announcement.
It later dropped to $15.76 following United’s withdrawal from the competition – around 40 cents below their original price before the original announcement.
The reputational damage done to the club has gone beyond the Super League, with protests outside Old Trafford and the postponement of United’s match against Liverpool making headlines around the world.
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- Manchester United FC
- European Super League
- Premier League
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