Glazer family selling 8% of Manchester United’s shares

Glazer family selling 8% of Manchester United’s shares

The Glazer family are selling 9.5 million Class A shares in Manchester United totaling 8% of the club’s ownership.

The Business Wire reports that the sale will raise in excess of $160m which will be taken out by Kevin and Edward Glazer with the club set to receive none of that money since the shares are the publicly traded Class A shares.

While these Class A shares (1 vote per share) are not the Class B shares (10 votes per share) and the Glazers have therefore not reduced their power hold on Man United, it does reduce their overall ownership down to 69%.

The Glazers are selling nearly 10% of the publicly available shares in United, allowing another investor to purchase these. In September, Ariel Investments increased their stake in United to more than 5% after purchasing more than $100m Class A shares on the New York Stock Exchange.

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