Football Trade Directory

Premier League: One of Malcolm Glazer's sons to sell 3m Manchester United shares


 
 

Three million shares in Manchester United have been put up for sale by Edward Glazer, son of former owner Malcolm.

Malcolm Glazer was United's owner, before his death in 2014, which led to his stake in the club being passed on and shared equally between his six children

The sale of the shares could be concluded by the end of the week. Following the sale, the Glazer family will own around 80% of shares in the  club.

Edward Glazer, who serves as co-chairman of NFL franchise Tampa Bay Buccaneers and is co-president of the Glazer Family Foundation, will use the funds for personal estate planning.

A statement from the Old Trafford club read: "Manchester United plc today announced the offering of 3,000,000 of its Class A Ordinary Shares by the Edward S. Glazer Irrevocable Exempt Trust (the 'Selling Shareholder').

"The underwriter will have an option to purchase up to an additional 450,000 Class A Ordinary Shares from the Selling Shareholder."

"Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholder."

"The offering is expected to close on 12 December 2014, subject to customary closing conditions."

United managed their fifth straight win in the Premier League on Monday evening as they beat Southampton 2-1 at St. Mary's, but their performance has been heavily criticised, with even manager Loius Van Gaal calling their win 'lucky'.

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