The owners of Manchester United sold another 9,500,000 shares worth £137.12 million on October 5.
United notified the New York Stock Exchange of the club’s sale on Tuesday evening on behalf of Kevin Glazer. Edward Glazer, two of the club’s executives. Clearly stated that the club will not receive money from this sale of shares.
About five months ago, the Manchester United vs Liverpool game was postponed due to a protest at Old Trafford by Red Devils fans against the Glazer family. Following his dissatisfaction with Joel Glazer. The club took part in the creation of the “European Super League” project that focused on the interests of the participating teams. Without paying attention to the opinions of the fans before this project is cancelled.
The sale represents 8% of the total shares held by the Glazer family. They are also the largest shareholder at 69% and sources confirm they remain committed to bringing Manchester United back to the top of the charts. This sale of shares is a sale below the stock market value due to the sale of a large number of shares.
In March last year, Avram Glazer, co-chairman of the club. It has sold a stake in the club worth 70 million pounds in the past.