GLAZERS SELL OFF € 161m IN SHARES
MANCHESTER UNITED owners the Glazer family have cashed in another chunk of their shareholding in the Premier League giants.
Directors Kevin and Edward Glazer sold 9.5million shares valued at € 161.20m with none of the proceeds going to the club.
It follows on from co- chairman Avram Glazer dispersing € 82m worth of shares in March.
Despite the latest check out by the brothers, the family’s iron grip on the € 4bn club remains in tact with the combined holding at 69 per cent.
The sale adds to a growing total of € 529m taken in share dispersals since flotation on the New York Stock Exchange in 2012.
The latest shares have been sold to a single underwriter, Bank of America, who may sell them to institutions or make them available to investors.
Owners
The club’s Florida- based owners have attempted to reach out to fans since the club’s fixture with Liverpool was called off when the Old Trafford pitch was stormed back by supporters in May.
Resulting talks led to a greater role for a Fans Forum and the intention to construct a fans’ share scheme.
Club sources expect progress and an announcement regarding the latter “in the not too distant future”.
The scheme is expected to deliver shares with greater voting rights than the Class A shares which will go on sale following the latest sell- off.