Manchester United: Glazer family owners put 9.5 million shares up for sale

Manchester United’s owners have put 9.5 million shares in the club up for sale.

The club announced the stock, worth £137.12million, would be made available via the New York Stock Exchange.

A statement said the Premier League club “will not receive any proceeds from the sale of any… shares”.

The shares listed are in the names of directors Kevin Glazer and Edward Glazer and represent around eight per cent of the owning family’s combined ownership.

The announcement comes after another of the family, Avram Glazer, sold £70million of shares in March. United did not receive anything from that sale.

The latest development comes amid continuing fall-out following the failure of the European Super League project, in which the Glazers were heavily involved, earlier this year.

United and 11 other leading European clubs threatened to break away to form their own rival competition to the Champions League.

It quickly collapsed after being hit by a wave of fan, sporting and political opposition.

That then brought the turbulent relationship between United supporters and the Glazers, which has existed since the Americans took control in 2005, back to the fore.

In response, the Glazers promised to engage more with supporters and said some shares would be made available to fans.

Source: Read Full Article