Sources: Glazers To Stay At Utd After Share Sale

By Daily sports on March 13, 2021

The Glazer family remain committed to owning Manchester United despite Avram Glazer’s decision to sell five million of his shares, sources have told ESPN.

Avram, co-chairman at Old Trafford alongside brother Joel, could earn around $100 million from the sell-off, which would see the Glazer's ownership of the club drop from 78% to 74.9%.

A statement issued on Thursday confirmed United will not receive any money from the sale.

It read: “Manchester United plc [“Manchester United”] today announced the offering of 5,000,000 of its Class A Ordinary Shares by the Avram Glazer Irrevocable Exempt Trust [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 March 16, 2021.”

Class A shares have a tenth of the voting rights of Class B shares, of which the majority are still owned by the Glazers.

Sources have told ESPN that the family have no plans to relinquish their control of the club they have owned since 2005.

At the close of the New York Stock Exchange on Thursday, United’s share price was at $20.13 each meaning Avram Glazer could pocket $100.65m from the sale. (ESPN)

•PHOTO: The Glazer Family

Source Daily sports

Posted March 13, 2021


 

You may also like...
Fans, journalists to decide NFF monthly award winners...

Iniesta: World Cup Win Saved Me From Depression...

Sevilla rival Barca for Ndidi

NFF to refund FIFA cash they can't account...

Onazi confirms imminent move to Birmingham

Official : Nigerian Federation pull the plug on...

 

Latest News CAF awards: Ajibade, Nnadozie, Edo Queens bag nominations Lagos SWAN, PAACC Hold SWAN Day At Golfview Hotels, Ikeja Crisis looms as Eagles’ form raises AFCON, W’Cup concerns Ex-Nigerian Super Falcons player handcuffed, children assaulted as police storm Anambra Football Academy Sports NFF, teammates console Nwabali on father’s death Abia Govt hails Nigeria Olympic Committee over staging an admin course in Umuahia Libya deliver Eagles 2025 AFCON ticket Eagles battle Cheetahs for 2025 AFCON ticket Yellow Greens gear up for T20 W’Cup qualifiers Tyson tips Fury to beat Joshua Sadiq absent as 22 Eagles train in Abidjan Eagles’ striking trio hot for Cheetahs, Amavubi clashes

 

Most Read Rangers International going, going . . . (55,163 views) Amaju Pinnick: A cat with nine lives (46,307 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (44,369 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (44,015 views) Sports Development: Zenith Bank on the zenith (43,948 views) Current issues in Nigerian sports: Matters arising (43,904 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (43,742 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (43,311 views) Olopade, BET9A wave of revolution in NNL (42,366 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (41,054 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (39,506 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (38,931 views)

 

Phone numbers

Tel: +234(0)8066020976
+234(0)8055068145
+234(0)7013416146
+234(0)8094272884

Email addresses

info@dailysportsng.com
support@dailysportsng.com
publisher@dailysportsng.com

Office address

No 3, Adetoun Close, Off College Road, Ogba, Ikeja Lagos.
Website: www.dailysportsng.com

Social Media