Glazers selling more shares in Man Utd

Football
25 Sep 2019 • 4:31 PM MYT
Tribal Football
Tribal Football

Tribal Football covers news from the Premier League, LaLiga and Serie A

The Glazers are selling shares in Manchester United.

The Mirror says the Glazer family are seeking to raise 320million ($400m) with the sale of new shares in Manchester United PLC.

United executive vice-chairman Ed Woodward faced investors at lunchtime on Tuesday to discuss the club's financial situation, with record revenues revealed to the tune of 627.1million.

He also spoke of the need for patience with manager Ole Gunnar Solskjaer, after the club's disappointing start to the season continued with a 2-0 loss to West Ham on Sunday.

However, within hours, a newly-filed prospectus with the United States Securities and Exchange Commission had the club's owners proposing the sale of 24million Class A shares.

Within the document, signed by both Joel Glazer and Woodward, the proposed maximum offering price per share is $17.64 (14.12) for the shares, which come with restricted voting rights.

Those shares would be seeking to raise 320million, with the Glazers also filing an equity release to the sum of 336m ($420m) too.

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