Manchester United set to sell shares worth £140m

Manchester United have announced the planned sale of 9.5m ‘Class A ordinary’ shares owned by two members of the Glazer family worth almost £140m at their current price.

The move will see Edward Glazer and Kevin Glazer give up some of their stakes in United, although overall the Americans owners will retain 69% of the Old Trafford club.

It also comes after co-chairman Avram Glazer sold £70m worth of his shares earlier this year.

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The shares are listed on the New York Stock Exchange after the club was floated in 2012 and at the time of writing are worth $19.62 each. That means the 9.5m shares being offered for sale by the two Glazer siblings have a combined value of just over $186m, or £137m.

All of the proceeds from the stock sale belong to the Glazers and none will be invested in the club.

The announcement makes that extremely clear: “Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholders.”

Class A shares offered publicly are less valuable than Class B shares that are closely guarded by the Glazer family, with 10 times less voting power within the club. It means that their 69% stake still represents enormous control, while also being able to massively profit from selling.

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