Man United owners to sell five per cent share in club for US$150m
Six children of the late billionaire Malcolm Glazer are expected to make around US$150m (£89m) by selling a five per cent stake in Manchester United Football Club (MUFC).
Avram, Kevin, Bryan, Joel, Darcie and Edward – who took over their father's business interests when he passed away in May 2014 – will still own 80 per cent of MUFC after the sale.
The Glazer family bought the English Premier League club for US$1.34bn (£790m) in 2005.
It is believed that none of the money generated by the sale will be re-invested in the club.
MUFC was floated on the New York Stock Exchange in 2012 and the club’s shares are currently priced $19.31, valuing the club at nearly US$3.2bn (£1.9bn).
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