Manchester United joint owner Edward Glazer to sell £28m worth of sharesComments Off on Manchester United joint owner Edward Glazer to sell £28m worth of shares
The sale comes six months after the death of Malcolm Glazer, the businessman who led a debt-laden takeover of the Red Devils in 2005, angering the club’s huge fan base.
Ownership was split equally among Malcolm’s six children after his death.
Edward is selling 3 million of his 3.45 million ‘A’ shares in the club, although he will retain the all-important ‘B’ shares which give the family control.
News of the sale broke at half-time in the club’s 2-1 win away at Southampton – their fifth straight Premier League win lifting them to third in the table.
Shares dipped nearly 10% in after-hours trading following the news.