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Monday, February 26, 2024
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Glazers Offer $186M in Man U Shares

Manchester United/Design: Alex Brooks

Manchester United owners Kevin and Edward Glazer are putting 9.5 million of the club’s shares on the New York Stock Exchange, worth around $186 million, until Oct. 8. 

The amount totals roughly 8% of the family’s combined ownership and follows Avram Glazer’s sale of $97 million in shares in March. 

Fans have recently criticized the Glazers for being a part of the short-lived Super League, saying their “sole motivation is personal profit.” When the Glazers, who also own the Tampa Bay Buccaneers, purchased the team for $1.4 billion in 2005, thousands of fans were reportedly forced to sell shares to the family in a compulsory buyout.

The Premier League club will not receive any proceeds from this week’s sale but is experiencing a financial uptick in recent months nonetheless.

  • Man U’s broadcasting revenue increased 88% year-over-year to $347.3 million for the 12 months ending June 30.
  • The team acquired star Cristiano Ronaldo in August — its equity value has increased by 12% since.
  • Ariel Investments became the third-largest owner of the team’s common stock last month after it increased its stake from 5% to 13.8% through the franchise’s NYSE listing. The fund now owns 5.97 million shares of the team, worth a reported $103.2 million.

The club is currently valued at $3.2 billion. Despite recent sales of shares, the Glazers reportedly remain committed to the franchise.

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