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$100m sale for United co-chairman

Manchester United co-chairman Avram Glazer stands to make a $100 million (£71.7 million at current exchange rate) return after putting five million shares in the club up for sale on the New York Stock Exchange.

A deadline of Tuesday, March 16 has been put on the sale of the Class A Ordinary shares, which are worth $20.13 each. There is no guarantee that all of Glazer’s shares will be bought before the deadline.

The club confirmed in a statement that they “will not receive any proceeds from the sale” — any profit goes solely to Glazer.

Should all the shares be bought, the Glazer family stake in United would decrease from 78 per cent to 74.9 per cent, which still leaves them with a controlling share of the club.

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