Manchester Uniteds Darren Fletcher (24) celebrates with his teammates after scoring the winning kick in a penalty kick shootout during a soccer game at the 2014 Guinness International Champions Cup, Tuesday, July 29, 2014, in Landover, Md. Manchester United won 5-3 in penalty kicks. (AP Photo/Luis M. Alvarez)
Glazers seeking $150 million selling Man U shares
Soccer » American owners of English club want to part with 5 percent of the business.
By ROB HARRIS
| The Associated Press
First Published Jul 30 2014 06:34 pm • Last Updated Jul 30 2014 06:34 pm
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.
Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
About Reader Comments
Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account
. See more about comments here.