Man Utd: Fans protest against Glazers outside Old Trafford
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Manchester United’s owners the Glazers have put 9.5million shares on the market. That equivocates to a value of $186.86m, or £137.12m. And, now, their stance on selling the club has come to light.
According to the BBC, United notified the New York Stock Exchange of the sale on Tuesday evening in the names of club directors Kevin and Edward Glazer.
It’s made clear the Red Devils won’t receive any proceeds from the sale, and comes just five months after the backlash to the European Super League.
The Glazers, along with other wealthy owners, hatched a scheme to play in a new league containing the elite of the elite.
But they ultimately pulled the plug, with fans and other footballing figures rallying to end it before it even started.
After that, Joel Glazer committed to rebuilding relations with supporters.
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Yet while they’ve now put 8 per cent of the club’s overall ownership on the market, it’s stated they have no plans to sell at the current moment in time.
It’s claimed the Glazers are ‘committed’ to the Red Devils and now hold a combined 69 per cent of the shares in United.
These shares are ‘almost certain’ to be sold at a price lower than the Stock Market value due to the huge number being sold.
And Joel made it clear in September that these would be available for fans, despite the difficulties involved.
While the Glazers have been condemned at United, they did delight fans back in the summer.
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Deals for Jadon Sancho and Raphael Varane were financed, with the pair arriving from Borussia Dortmund and Real Madrid respectively.
And, then, Cristiano Ronaldo touched down from Juventus – making a Hollywood return to Old Trafford in the process.
Speaking in June, meanwhile, Joel made it clear he’d do everything in his power to ensure United are competitive.
“Our goal is to win every competition we compete in, and we will continue to invest in our academy and in the transfer market to support the manager in an effort to meet the club’s goals,” he said.
“We want this club to always be successful and win trophies.
“To compete for trophies requires significant investment.
“The commercial growth at the club has helped deliver the revenue which ultimately underpins that investment in a sustainable manner.
“That approach has allowed us to have among the highest net transfer spend in world football over the last five years and have one of the highest wage bills.
“Also, as a direct result of our commercial business, we have kept ticket prices affordable for all fans and not raised season ticket prices in over 10 years.
“This is an area that we as a club are very proud of.”
And he also added: “Fans are the lifeblood of Manchester United and I am personally committed to ensuring that they are given an enhanced voice, through the creation of a Fan Advisory Board and a Fan Share Scheme.
“The club has been in discussions with Must regarding a fan share scheme for a number of months and has already sought external legal advice on options.
“Discussions will now intensify, with the aim of agreeing a plan before the start of the new season.”
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