Jul 31, 2014, 8:20 AM EDT
The family of late Manchester United owner Malcolm Glazer is set to make a lot of money by selling off more shares of the Premier League club, while a club document warns that the Red Devils new deal with adidas would lose value if the club misses the Champions League in successive seasons.
The BBC is reporting that the Glazers will open up another five percent of the club on the New York Stock Exchange. The sales would net them an expected $150 million, meaning 15 percent of the club would be publicly-owned.
The family would still own over 80 percent of the club after the sale of eight million shares.
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 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.
Cue the family lambasting from England and abroad, as this news comes on the heels of a club prospectus warning against missing UEFA Champions League football in the future:
“Because of the prestige associated with participating in the European competitions, particularly the Champions League, failure to qualify for any European competition, particularly for consecutive seasons, would negatively affect our ability to attract and retain talented players and coaching staff, as well as supporters, sponsors and other commercial partners.
‘Failure to participate in the Champions League for two or more consecutive seasons would also reduce annual payments under the recently announced agreement with adidas by 30 per cent of the applicable payment for the year in which the second or other consecutive season of non-participation falls.”
Jul 2, 2015, 11:47 PM EDT
“Come for the game, stay for the fireworks show afterwards!”
Jul 2, 2015, 11:03 PM EDT
The end is nigh for Freddy Adu’s professional soccer career, isn’t it? This has to be as low as it goes.
Jul 2, 2015, 10:05 PM EDT
One last chance for Jurgen Klinsmann to tinker and fine-tune before the USMNT defends its Gold Cup title.
Jul 2, 2015, 8:53 PM EDT
Japan head coach Norio Sasaki: “I do not feel badly for Laura Bassett.”
2015 Gold Cup — Group C preview: Hobbled Mexico still favorites over Guatemala, Trinidad and Tobago, Cuba
Jul 2, 2015, 7:08 PM EDT
Mexico may have lost two Gold Cup starters in the last week, but they’re still heavy favorites in Group C.
USWNT’s Lloyd, Johnston, Rapinoe shorlisted for Women’s World Cup Golden Ball; Solo for Golden Glove
Jul 2, 2015, 4:45 PM EDT
Four USWNT players have been shortlisted for the Golden Ball and Golden Glove awards.
Jul 2, 2015, 3:35 PM EDT
Here’s a look at who Los Ticos will have to get by in the group stages. Can Canada and Jamaica make a deep run?
Jul 2, 2015, 3:00 PM EDT
Pep is more than happy to keep Schweinsteiger around at the Allianz next season, but he’s becoming a little restless.
Jul 2, 2015, 2:25 PM EDT
Can Klinsmann’s side breeze through group play at the Gold Cup?
Jul 2, 2015, 1:40 PM EDT
The latest gossip is right here, with updates on two monster transfers.
Jul 2, 2015, 1:04 PM EDT
England’s head coach was full of pride and admiration for his team despite falling at the semifinal hurdle.
Jul 2, 2015, 11:57 AM EDT
Kilnsmann reveals he has decided to take the armband off Clint and hand it to Bradley.
Jul 2, 2015, 10:25 AM EDT
Describing the scene from England, as the Lionesses helped to inspire a nation this summer in Canada.
Jul 2, 2015, 9:23 AM EDT
French international is reportedly mulling over an offer from FCD. What do we think about this?
Jul 2, 2015, 8:47 AM EDT
Manchester United’s “Chicharito” will not play for El Tri this summer after being injured in a friendly.
Jul 2, 2015, 7:40 AM EDT
The U.S. Department of Justice wants to bring FIFA officials accused of corruption to the USA.
Jul 2, 2015, 12:59 AM EDT
Japan beat the U.S. to win the 2011 World Cup. The U.S. beat Japan to win the 2012 Olympics. Round 3 takes place Sunday in the 2015 Women’s World Cup final.
Jul 2, 2015, 12:28 AM EDT
A Major League Soccer franchise is going to win the 2015 Lamar Hunt U.S. Open Cup.
Jul 1, 2015, 11:57 PM EDT
Mark Sampson spoke in detail about the character of Laura Bassett and how he hopes girls in England are inspired for the future.
Jul 1, 2015, 11:11 PM EDT
Full credit to England for an inspiring World Cup, and to Japan for getting to a second straight World Cup final.
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