Sports
Glazer Family Puts Manchester United Shares Up For Sale
Manchester United have announced the planned sale of 9.5m ‘Class A ordinary’ shares owned by two members of the Glazer family worth almost $186.86m at their current price
United notified the New York Stock Exchange of the sale on Tuesday evening, in the names of club directors Kevin Glazer and Edward Glazer. However, the statement made it clear that the club will not make any proceeds from the sales.
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This is an aftermath of co-chairman Avram Glazer selling £70m worth of his shares earlier this year.
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.
The sale represents 8% of the Glazer family’s total combined ownership, although they will still hold a combined 69% of the shares in United and sources say they remain committed to the club.
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