The Glazer put 9.5 million Manchester United shares for sale, valued at 186 million dollars

(Football news) The Glazer family further put up 9.5million shares up for sale as it constitutes to almost 8% of the clubs shares, as upon the sale they will be valued at 186 million dollars at the New York Stock exchange. Last March Avram Glazer put up five million shares banking 70 million pounds, it meant that Glazer family ownership fell from 78% to 74.9%, now with the further sales of Kevin and Edward Glazer shares their ownership stands at 69%.

The American family have been hated ever since 2005 when they purchased the club on debt, as of now the debt still stands at an excess of 400 million pounds, along with the European Super League debacle the Man Utd fans outraged and held a massive protest outside the club stadium. After the protests United co- Chairman Joel Glazar attended the fan forum where they were promised to make club shares available to the public to purchase. Since then the United owners haven’t taken any necessary steps in making the shares public, to win over the fans they sanctioned the move of Cristiano Ronaldo which in turn helped increase the Manchester United share prices as the Glazer family are taking advantage of this situation and banking a lot of money through it.

This could also be an exit strategy of the Glazers to sell the club but the owners have assured that their main focus remains to take the club to their glory days back but especially with so much pressure from the fans and media it remains to be seen if they do it or not.

Also read: Manchester United close to appointing Richard Arnold as the new Chief Executive

An official club statement on Tuesday evening confirmed the news: "Manchester United (“Manchester United”) today announced the offering of 9,500,000 of its Class A Ordinary Shares by the Kevin Glazer Irrevocable Exempt Family Trust and the Edward S. Glazer Irrevocable Exempt Trust (the “Selling Shareholders”).

"Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholders. The offering is expected to close on October 8, 2021, subject to customary closing conditions. The Class A Ordinary Shares are listed on the New York Stock Exchange (the “NYSE”) under the symbol “MANU.”


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