33.1 C
Delhi

Manchester United owners putting up 9.5 million shares for £140m profit

Manchester United owners, the Glazer family, are expected to give up a chunk of their shares of the club. About 9.5 million Class A Ordinary shares of the club will be listed publicly by Edwin and Kevin Glazer. However, the family will retain 69% of the total shares of the club. 

Co-chairman Avram Glazer sold £70 million worth of shares of Manchester United earlier this year. His family members are now set to follow suit, with their total shares being priced at double the amount Avram sold his shares for, at £140 million. 

The club have stated very clearly that they will not receive any proceeds from the sale of the shares. The Class A shares that have been listed have 10 times less voting power than Class B, and are also less valuable than the other kind. 

As a result, even though the Glazers are going to make a decent profit by selling these shares, they will also retain control over the club since they own the majority shares. Moreover, they will also be able to influence the decisions of the club in close capacity. None of the money collected will be invested into the club for its development or otherwise. 

- Advertisement -TechnoSports-Ad

Avram and Joel Glazer are the co-chairmen of the club and are the most closely involved with the operations of the club. Kevin and Edward, on the other hand, are two of the lesser known members of the Manchester United owning family. 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Arsh Das
Arsh Das
A music enthusiast, also passionate about football and bringing you the latest in the sporting world every day.
TechnoSports-Ad

Popular

TechnoSports-Ad

Related Stories

More from author

Jassim Bin Hamad Al Thani net worth: How much is the Manchester United bidder valued at?

Qatari Sheikh Jassim Bin Hamad Al Thani, the chairman of the Qatar Islamic Bank, has placed a bid to take over Manchester United. He...

Top 10 Bowlers With the Most Wickets For India in All Formats

Anil Kumble, stands as India's leading wicket-taker across all international formats. Debuting in a Test match against England in 1990, Kumble claimed a remarkable...

Top 8 Players With the Most Centuries in a Calendar Year

Cricket has witnessed many exceptional performances, but some have stood out for the most centuries in a calendar year. Leading the chart is Sachin...

Olivier Giroud to sign for LAFC at the end of 23/24

LAFC has finalized a deal with French striker Olivier Giroud on a free transfer. The move is planned for this summer after Giroud's tenure...