Pranav Nair
Nick Train slams Manchester United owners for ruining the club’s reputation by committing to the European Super League
It would appear that the Glazers are not just facing blowback from external sources at Manchester United, following their ill-fated attempts at taking part in the European Super League.
According to The Athletic, the latest person to express his displeasure is Nick Train, who manages the UK Equity Fund Lindsell Train.
This is significant given that the fund owns 27 per cent of the available United A-shares on the New York Stock Exchange. It equates to seven per cent of the club.
While it may not seem like a huge number to many, it is worth noting that Lindsell Train UK is the club’s leading shareholder aside from the Glazer family.
In his monthly update to investors, Train claimed he was left in the dark regarding the club’s intentions for the Super League. He has expressed his dissapointment and has sought assurances from the club moving forward.
“We expressed our disappointment about the reputational damage Juventus and Manchester United have inflicted on themselves. We asked for clarity about their position regarding the ESL going forward.”
Keeping a watchful eye!
Train has called for negotiations to take place between the different stakeholders so that a common consensus can be reached. For now, it would appear that the fund will monitor unfolding events with much interest.
“We continue to monitor events closely as they unfold, while considering their implications for our investment case.”
The website of Lindsell Train highlights how the City giant looks to invest in companies which exhibit responsible business practices. It is fair to say that United’s conduct of late has been far from exemplary.
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Lindsay Train’s shares have only about 10 per cent of the voting rights of the Glazer family’s B-shares.
Curiously, the firm also holds shares in Juventus, another top European side involved in the Super League. Unlike United, however, the Italians are yet to withdraw their commitment.
Given the two headed snake in their midst, Train and his associates will certainly keep a close eye on future proceedings.
