Man Utd owners' £70m share sale

Man Utd owners' £70m share sale

Manchester United co-chairman Avie Glazer has put five million of his shares in the club up for sale.

A deadline of 16 March has been put on the sale of the shares, which closed on the New York Stock Market this evening at $20.13.

There is no guarantee Glazer will recoup that amount but if he did, sale would be worth $100.65m (£70m).

United said none of the money would go to them.

The sale will reduce Glazer’s personal shareholding to 10.2% of the Old Trafford club.

The Glazer family’s combined ownership will fall from 78% to 74.9%.

The family have been controversial owners since they bought the club through a leveraged buyout in 2005 that valued the club at £790m.

When the club announced its second quarter results last week, it confirmed its debt had risen to £455.5m.

It has been estimated in the 16 years since the takeover, over £1bn has left the club in finance costs to service the debt and pay dividends to the family.

A United source insists the move does not represent a weakening of the family’s commitment to running the club.

@#%&!s.

Nice one Fergeh.

Good owners.

United said none of the money would go to them.

why would it?

Utd99 currently checking the backs of all sofas

Surely the less they own the better in the long run

Originally Posted by est.1878

Utd99 currently checking the backs of all sofas

Too late mate. Missed it.

Avie knows...

Originally Posted by TheWhiteParrot

Surely the less they own the better in the long run

Sort of, but they’re profiting off our worth without paying down their debt and without ever getting close to relinquishing power.

The last line in that original piece should end with "unfortunately".

Originally Posted by jem

why would it?

Imagine asking the question. "Excuse me, Does any of the money go back to the club?"

"er, no"

100 million dollars for only about 4% of shares.

who is ever going to have the money to be able to buy these £#%&!ers out?

Originally Posted by Sparky***

100 million dollars for only about 4% of shares.

who is ever going to have the money to be able to buy these £#%&!ers out?

Nobody. Ever.

Just not worth it.

just got an email from M.U.S.T

Originally Posted by Sparky***

100 million dollars for only about 4% of shares.

who is ever going to have the money to be able to buy these £#%&!ers out?

So the value of the club is c.£1.8bn based on the sale of these shares.

Originally Posted by Danoli

So the value of the club is c.£1.8bn based on the sale of these shares.

And comes with £500m debt, that we know of..

A fair bit lower than Forbes £3bn valuation of the club in 2019

https://www.forbes.com/teams/manches...h=33f220bc13f9

Originally Posted by dunk

And comes with £500m debt, that we know of..

And a stadium in desperate need of a renovation....

and then there's the small matter of the chronically underachieving football team.

Originally Posted by Danoli

A fair bit lower than Forbes £3bn valuation of the club in 2019

https://www.forbes.com/teams/manches...h=33f220bc13f9

Got my sums wrong , sorry

Based on the sale of those shares the value of the club is £2.258bn

Originally Posted by Danoli

Got my sums wrong , sorry

Based on the sale of those shares the value of the club is £2.258bn

Considerably more actually. Minority interests come cheaper. You’d be paying substantially more per share for a controlling interest.

Only buy out chance is a similar deal to City where the ownership doesn’t care to make anything out of the club itself.