Glazers to raise £88.7m in Manchester United share sale
- 31 July 2014
- From the section Business
Manchester United's US owners are set to pocket about $150m (£88.7m) by selling more of their shares in the club on the New York Stock Exchange.
The club said the Glazer family is selling eight million shares, or about 5% of the business.
The Glazers, who will keep control of the club, previously sold 10% of their holding via a stock listing in 2012.
The deal comes two months after Malcolm Glazer died. His six grown children control the club.
The latest share sale was announced on a day when United shares closed at $19.31 apiece.
The Glazers bought United for £790 million ($1.34bn) in 2005.
Once the shares are sold, the six children of the late Mr Glazer will still own more than 80% of the club's total shareholding.