Chinese investor making moves to line up Manchester United shares, according to reports
Independent shareholders contacted in recent weeks amid rumours some members of Glazer family might step down
A MYSTERY Chinese buyer is thought to be interested in buying a stake in Manchester United.
The Sunday Times reports that negotiators claiming to act for a billionaire Asian investor have contacted some of United’s independent shareholders in recent weeks.
Their mission was to persuade shareholders to hand over, say, an eight per cent holding in the Premier League giants.
The club is listed on the New York Stock Exchange.
There have been persistent rumours that some members of the Glazer family – who control some 80 per cent of the club – are ready to relinquish a big chunk of shares.
report says that the six children of the late Malcolm Glazer, who bought United for £790million in 2005, hold opposing views on whether to sell.
In any event, there is little chance that they will sell up lock, stock and barrel.
Especially as United is considered a trophy asset by Joel and Azram Glazer, who are co-chairmen.
Bryan Glazer is said to want to keep his stake, but Edward, Kevin and Darcie Glazer might be interested in stepping down.
It is five years since United was listed in New York.
Only a small stake was sold, around £150m,
After Glazer Sr died in 2014, the siblings arranged a follow-on sale that reduced their holding still farther.
At close on Friday, United’s market value was £2.2billion,with shares having risen to just $17.10 from their debut figure of $14.
Last year the club reported revenues of £513.6m with operating profits of £38.9m.
