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Glazers seeking $150 million selling Man U shares

Published July 30, 2014 6:34 pm

Soccer • American owners of English club want to part with 5 percent of the business.
This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Manchester United's American owners are set to raise around $150 million by selling more of their shares in the club on the New York Stock Exchange.

The English Premier League club announced Wednesday that the Glazer family is selling 8 million shares with reduced voting rights, which equates to around 5 percent of the business. The Glazers, who maintain control of the club, previously sold 10 percent of their holding via a stock listing in 2012.

The latest share sale was announced on a day when United shares closed at $19.31, with the Glazers cashing in at a time of renewed confidence at the club.

It also comes two months after Malcom Glazer, who led the family takeover of United in 2005, died. His six grown children control the club.