Friday, February 23, 2018
Business

Glazer family selling 5 percent stake in Manchester United for $150 million

Manchester United's American owners, the Glazer family who control the Tampa Bay Buccaneers, 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 soccer club said 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 announcement comes two months after Malcolm Glazer, who led the family takeover of "ManU" in 2005, died. His six grown children control the club.

The latest share sale reflects the Glazers cashing in at a time of renewed confidence at the club. ManU shares are valued at just under $3 billion. They have traded as low as $14.26 in the past year, and traded Thursday at midday at $18.16.

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