Football News: Glazer to sell Man Utd shares

3 million shares in Manchester United have been put up for sale by Edward Glazer.

A statement from the club and NYSE announced, "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 Dec 12, 2014, subject to customary closing conditions."

Edward Glazer took ownership of the shares following the death of his father Malcolm six months ago.

Written by Tris Burke December 09 2014 08:21:47