Manchester United owners the Glazers sell club’s shares worth $100m
According to the Mirror, Manchester United owners, the Glazers have sold five million shares of the club in a deal worth $100million.
Ariel Investments, an investment firm based in Chicago, United States are the one who have brought the ‘A’ class shares. They now also carry full voting rights when it comes to making major decisions at the club.
The stocks have been purchased directly from the stock market and not via the Glazers. Ariel has stated that they own $16.8billion in assets as of 2021.
The Glazers have never been the most popular of owners and drew severe flak earlier this year amidst protests against the European Super League. Despite opposition, dissent has now died down and the Americans are no closer to ending their ownership of the club.
They have since made an effort to reconnect with fans. Club infrastructure is being attended to while Ole Gunnar Solskjaer was also backed in the summer transfer window. Jadon Sancho, Raphael Varane and Cristiano Ronaldo were some of the biggest names added to the roster in recent months.
Fans are also set to have a greater say over how the club is run. The Glazers have already announced a new initiative that would give fans more power in the board room. According to the report, a Fan Advisory Board will provide the platform for consultation between the fans and the club’s decision-makers.
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For now, the Glazers can consider themselves safe. Opposition to their ownership has died down on the field and is largely constrained to social media. Whether this uneasy truce will last remains to be seen.
