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...
Iwobi laments poor Nigerian pitches

Kane Double Helps Tottenham Fight Back To Beat...

TRAGEDY: How SARS Officer Killed Football Star Tiyamu...

Small Pogba "Salami" a shining light in the...

Suarez Piles Misery On Barcelona

Dream Team VI walk tight rope in Olympic...

 

Latest News Nigeria beat Cameroon to reach IHF final 27 schools for Doregos Basketball Championship Super Falcons to play France’s Les Bleues in friendly SWAN suspends ban on coverage of Anambra FA activities Joshua among boxing’s top three earners in 2024 Oshoala makes history with Bay FC Nnamani hails team over IHF bright start Flamingos lift U-17 W’Cup Fair Play Trophy Rangers Intl, SWAN partner on sports collaboration in SE LAGOS SWAN CELEBRATES AIG ZONE 2 ON HIS BIRTHDAY AND 30 DAYS IN OFFICE Traders Cup: Upholstery Soccer Team Secured 2nd Win To Advance To Round Two Lagos SWAN Celebrates Oba Akiolu, Iyaloja General, AIG Fayoade

 

Most Read Rangers International going, going . . . (55,142 views) Amaju Pinnick: A cat with nine lives (46,269 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (44,350 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (43,992 views) Sports Development: Zenith Bank on the zenith (43,932 views) Current issues in Nigerian sports: Matters arising (43,879 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (43,718 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (43,289 views) Olopade, BET9A wave of revolution in NNL (42,333 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (41,036 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (39,489 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (38,916 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