Jul 31, 2014, 8:20 AM EST
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.”
Feb 27, 2015, 10:56 AM EST
Would Xavi head to NYCFC later this year?
Feb 27, 2015, 10:00 AM EST
The Toffees get a tricky test in Kiev, while Italy dominates the last 16 with five clubs.
Feb 27, 2015, 9:20 AM EST
Gunners midfielder goes under the knife once again.
Feb 27, 2015, 8:30 AM EST
Dutchman is out of pivotal stretch with right ankle injury.
Feb 27, 2015, 7:37 AM EST
Will Clyne stay at Saints or move to one of the big boys?
Feb 26, 2015, 11:37 PM EST
It’s red — lots of red — and “All For One.” Do you dig it?
Feb 26, 2015, 11:10 PM EST
Petr Cech has been in plenty of PK shootouts for Chelsea, but Courtois has never done it.
Feb 26, 2015, 10:32 PM EST
*sigh* Another MLS team gets hammered in CCL, and we’re (probably) down to one last hope.
Feb 26, 2015, 8:15 PM EST
It’s a who’s-who of USMNT, USWNT and MLS stars who are now eligible for the U.S. Soccer HOF.
Feb 26, 2015, 6:51 PM EST
A 550-pound British bomb was found near Dortmund’s stadium on Thursday. That’s a little bit crazy.
Feb 26, 2015, 6:13 PM EST
Five years, $300 million — the going rate for prime real estate on a top PL team’s jersey.
Feb 26, 2015, 5:05 PM EST
The Premier League’s nightmare week in European competition continued on Thursday.
Feb 26, 2015, 3:44 PM EST
It took kicks to settle the UEFA Europa League tie between Besiktas and Liverpool after both clubs won 1-0 home legs.
Feb 26, 2015, 2:59 PM EST
The shots may’ve been even, but Spurs had 2/3 possession for much of the night.
Feb 26, 2015, 2:36 PM EST
Cummings’ manager is backing him up, too, and the Scotland U-19 forward has 11 goals in 23 matches for Hibs this season.
Feb 26, 2015, 1:46 PM EST
If you believe the words from Real Salt Lake owner Dell Loy Hansen on local radio last night, you probably want to prepare for a work stoppage in MLS.
Feb 26, 2015, 12:42 PM EST
It had to be a terrifying incident for the team, let alone the player.
Feb 26, 2015, 11:50 AM EST
Kickoff is at 8pm ET, with the return leg in DC on Wednesday.
Feb 26, 2015, 11:05 AM EST
Koeman, like many of us, thinks it’s a little wild to keep talking about 2022 in 2015.
Feb 26, 2015, 10:16 AM EST
Gone for now is the trademark ponytail due to the cancer battle, but Jonas’ spirit has been and will be a big boost for the Magpies.
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