Glazers selling 2 per cent of Manchester United holding
The Glazer family, which owns Manchester United, is set to earn around $73 million from the sale of 2 per cent of its shares in the English soccer giants on the New York Stock Exchange.
The sale of a portion of shares in the club’s parent company Red Football is expected to be completed next week.
The value is based on the club’s share price on Wednesday of this week of $17.15.
The late Malcolm Glazer took control of Manchester United in 2005 in a deal worth $1.34 billion. Seven years later, the family sold 10 per cent of its stock holding on the NYSE for around $330 million.
The Glazers also own the Tampa Bay Buccaneers, of American football’s NFL.