Last update on. From the section Man Utd
Since 16 years, emotions over Manchester United's ownership simmer.
Manchester United's owners are offering another 9.5 million shares at a price of $186.86m (137.12m) for sale.
United notified the New York Stock Exchange on Tuesday evening of the sale in the names Kevin Glazer and Edward Glazer, club directors.
This statement clearly states that the club will not be receiving any proceeds from the sale.
This comes five months after United's Premier League match against Liverpool was delayed due to protests from fans.
This was after the collapse of European Super League, in which Joel Glazer, United co-chairman, was heavily involved in negotiations.
Avram Glazer, a shareholder in the club, sold shares worth 70 million to the club in March.
Although 8% of the family's total ownership will be sold, they will still own 69% of United shares. Sources say that they are committed to the club.
Due to the sheer volume of shares being sold, it is almost certain that the shares will sell at a lower price than the Stock Market value.
Joel Glazer, United co-chairman, has been to Fans Forums twice in the aftermath of supporter unrest. He pledged to make shares accessible to fans and also attended the forums.
He stated that implementing a share plan was "rather complicated", but added that "we're jumping these hurdles" and hoped the initiative would be concluded "in the not too distant future".
