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.”
Sep 22, 2014, 9:40 AM EDT
Rog and Davo welcomed guest after guest for a very special pod.
Sep 22, 2014, 9:05 AM EDT
Pellegrini on City’s 1-1 draw with Chelsea: “I think we played 90 minutes against a small team trying to defend.”
Sep 22, 2014, 8:32 AM EDT
German midfielder would be exactly what Arsenal need. Will he arrive in January?
Sep 22, 2014, 7:53 AM EDT
Will Defoe be heading back to England at the end of the 2014 MLS season? Reports suggest its likely.
Sep 22, 2014, 12:37 AM EDT
Toronto FC vs. Chivas USA was the only MLS match to occur on Sunday.
Sep 22, 2014, 12:10 AM EDT
Roundup of Serie A and La Liga matches from the weekend.
Sep 21, 2014, 10:09 PM EDT
Manchester City defender Pablo Zabaleta thinks the referee let Diego Costa off without a red card during their encounter that spurred a red card for the Argentine.
Sep 21, 2014, 9:07 PM EDT
Barcelona beat Levante 5-0 on Sunday to continue their winning streak in all competitions.
Sep 21, 2014, 8:27 PM EDT
Short written and video recap of Sunday’s games.
Sep 21, 2014, 7:02 PM EDT
Manchester City goalie Joe Hart confirmed that he hadn’t discussed a new contract with the club, and Liverpool is a prime candidate for his services, according to the Metro.
Sep 21, 2014, 5:48 PM EDT
More racism was thrown at Mario Balotelli, but this time, it appears law enforcement will get involved.
Sep 21, 2014, 5:09 PM EDT
Mesut Ozil and Danny Welbeck scored and assisted each other during the Gunners 3-0 win over Aston Villa.
Sep 21, 2014, 4:30 PM EDT
Alessandro Florenzi hugged and kissed his grandmother in the Stade Olimpico stands following his goal in AS Roma’s 2-0 victory over Cagliari.
Sep 21, 2014, 3:34 PM EDT
Everton manager Roberto Martinez laments loss to Crystal Palace, saying that his squad lost its drive for victory.
Sep 21, 2014, 3:06 PM EDT
One England international paid respects to another as a legend scored an emotional goal for his new team against his old.
Sep 21, 2014, 1:55 PM EDT
We didn’t see this coming, and neither did Frank Lampard.
Sep 21, 2014, 12:57 PM EDT
Pablo Zabaleta’s second yellow card changed the game, but a former Chelsea legend came back to haunt them.
Sep 21, 2014, 12:55 PM EDT
Everton started early and saw much of the ball but Crystal Palace got a few breaks and took advantage to pick up their first win of the season.
Sep 21, 2014, 11:21 AM EDT
Mario Balotelli put an LOL up on Twitter at Manchester United’s expense, and subjected himself to some horrible racial abuse.
Sep 21, 2014, 10:57 AM EDT
Despite heavy defeat, United’s new attacker scores goal of the season contender.
- Men in Blazers podcast: A Night of 1,000 Stars 0
- Report: Sami Khedira to seal $20 million Arsenal move in January 0
- Emotional Lampard just as shocked after pegging back ex-club Chelsea (VIDEO) 0
- Manchester City 1-1 Chelsea: Lampard shocks former club with late equalizer (video) 1
- Mario Balotelli mocks Manchester United on twitter 5
- Leicester City 5-3 Manchester United: Foxes complete comeback for the ages (video) 10