Ed Glazer selling 3 million shares

https://twitter.com/SkySportsNewsHQ/status/542086414390026240

And so it begins.....

To who though? And to what purpose?

Originally Posted by Sparky***

To who though? And to what purpose?

Don't know but, they're worth near £50 million quid

I can see more of this happening as all his parasitic gimp kids cash in now that malc has kicked the bucket

Edward Glazer, one of Malcolm Glazer’s six children, has put three million shares in Manchester United up for sale, little more than six months after his father’s death, and stands to recoup in the region of $45m(£25.5m).

Malcolm Glazer took ownership of United in May 2005, but his death in May this year saw his children take an equal split of shares.

A statement released by the Barclays Premier League club and the New York Stock Exchange - where 10% of United’s shares are listed - announced the offer of “Class A Ordinary Shares”.

It means Edward Glazer, who serves as co-chairman of Tampa Bay Buccaneers and is co-president of the Glazer Family Foundation, is to receive a windfall from the sale, which could be concluded this week.

The statement read: “Manchester United plc today announced the offering of 3,000,000 of its Class A Ordinary Shares by the Edward S. Glazer Irrevocable Exempt Trust (the ‘Selling Shareholder’).

“The underwriter will have an option to purchase up to an additional 450,000 Class A Ordinary Shares from the Selling Shareholder.

“Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholder. The offering is expected to close on December 12, 2014, subject to customary closing conditions.”

Originally Posted by ScarFace

Edward Glazer, one of Malcolm Glazer’s six children, has put three million shares in Manchester United up for sale, little more than six months after his father’s death, and stands to recoup in the region of $45m(£25.5m).

Malcolm Glazer took ownership of United in May 2005, but his death in May this year saw his children take an equal split of shares.

A statement released by the Barclays Premier League club and the New York Stock Exchange - where 10% of United’s shares are listed - announced the offer of “Class A Ordinary Shares”.

It means Edward Glazer, who serves as co-chairman of Tampa Bay Buccaneers and is co-president of the Glazer Family Foundation, is to receive a windfall from the sale, which could be concluded this week.

The statement read: “Manchester United plc today announced the offering of 3,000,000 of its Class A Ordinary Shares by the Edward S. Glazer Irrevocable Exempt Trust (the ‘Selling Shareholder’).

“The underwriter will have an option to purchase up to an additional 450,000 Class A Ordinary Shares from the Selling Shareholder.

“Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholder. The offering is expected to close on December 12, 2014, subject to customary closing conditions.”

Avi Glazer has put some weight on

SSN reporting he will make 45m, with not a penny going back into the club

Manchester United will not receive any proceeds from the sale of any Class A Ordinary Shares by the Selling Shareholder

Nice one

Originally Posted by no fun

SSN reporting he will make 45m, with not a penny going back into the club

thats not how it works

The female one sold hers too once the @#%&! dad snuffed it.

I presume having never seen these two, that they only had shares as part of their inheritance.

Originally Posted by plopborsky

thats not how it works

Shares are in red holdings arent they? Not a penny will go into MUFC's bank account

I literally have no idea how the ownership of our club works these days, it's such a convoluted mess of shares and PIK schemes and debt.

Originally Posted by plopborsky

thats not how it works

Don't shoot the messenger

Oh, and see earseys post above

Andy Green @andersred · 2h 2 hours ago
Means Ed Glazer fancies some cash (around $45m), nothing else. No impact on club. For those asking, he's selling "A" shares (i.e. the ones with very few votes).

Originally Posted by Sparky***

To who though? And to what purpose?

Pleased for Ed tbh.

Originally Posted by The Watcher

Pleased for Ed tbh.

Originally Posted by Sparky***

To who though? And to what purpose?

Originally Posted by ScarFace

The female one sold hers too once the @#%&! dad snuffed it.

I presume having never seen these two, that they only had shares as part of their inheritance.

As far as I'm aware all 6 had equal stakes, and 3 of them have been wanting to cash in for a while whilst the main 3 we are most familiar with have been against the idea. This is supposedly what all the share issues have been about, trying to keep them happy.

There was something in red issue about Joel etc agreeing to a share issue every few years and failing to carry out the latest one, which apparently pissed off Darcy who saw it as them renaging on a deal. They'll be all out war soon. If these non voting shares weren't available for them to sell, they'd be £#%&!ed. What a £#%&!ing joke they are.

Yeah. Laughing stocks. Fancy only being able to make £25m at the drop of a hat. #@&%!s

Originally Posted by dunk

Yeah. Laughing stocks. Fancy only being able to make £25m at the drop of a hat. #@&%!s

Yeah because making money off the back of United is impressive, right?