• Skip to main content
  • Skip to primary sidebar

Manchester Football

A website about football in Manchester

You are here: Home / Manchester United / Edward Glazer to sell three million Manchester United shares

Edward Glazer to sell three million Manchester United shares

December 13, 2014 by Tony Bugby

Manchester United’s team building is to continue as the club expects a “higher level of net player capital expenditures” according to a share prospectus it has issued for the sale of shares by one of the Glazer family.

Edward Glazer, son of former majority owner Malcolm who died in May, is selling three million shares, for around £30m.

The club will not receive any of the proceeds, according to a statement issued to the New York Stock Exchange where 10% of the club’s shares are listed.

But in the sale prospectus setting out the offer United suggested a period of greater investment in players and the Old Trafford stadium.

It said: “To maintain our high standard of performance we anticipate a higher level of net player capital expenditures and player wages to retain talent and enhance the calibre of our team in the near term. We will also continue to invest in our facilities, including the Old Trafford stadium, to maintain the quality of service, enhance the fan experience and drive their high level of engagement and loyalty.”

It added: “We remain committed to investing in our team, our facilities and other initiatives to continue our many years of success and enhance our brand globally. We expect these initiatives will continue to be key drivers of our sales, profit and leading brand recognition going forward.”

In the three months to September 30, the club saw income fall by 10-per-cent from £98.5m to £88.6m, as it missed out on television and matchday revenues associated with playing in Europe.

However, it moved from a pre-tax loss of £470,000 in the corresponding period last year to a profit of £8.1m. This was down to much higher profits on player sales, up to £18.3m from £1m, and lower finance charges which fell to £6.2m from £9.8m.

Filed Under: Manchester United Tagged With: Edward Glazer, Manchester United

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

Primary Sidebar

Categories

  • Altrincham
  • Ashton United
  • Curzon Ashton
  • Europe
  • FA Cup
  • Hyde United
  • International
  • League Cup
  • Manchester City
  • Manchester City Women
  • Manchester United
  • Manchester United Women
  • Match Report
  • Melbourne City FC
  • Mossley
  • New York City FC
  • Non League
  • North West
  • Oldham Athletic
  • Premier League
  • Salford City
  • Stalybridge Celtic
  • Stockport County
  • Stretford Paddock
  • UEFA Champions League
  • Uncategorized

Manchester Football

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

RSS Manchesterfootball Youtube

  • Pep Guardiola might get his boots on if there is a shortage in the the Man City midfield!
    manchesterfootball
  • "We could have been a lot more creative than we were" - Steve Cooper on playing against 10 man City
    manchesterfootball
  • Rodri is still the best midfielder in the world - Pep Guardiola after Rodri was sent off
    manchesterfootball

RSS BBC Football News

  • 'Liverpool 2.0 reminds me of Klopp's best teams' September 25, 2023
    Jurgen Klopp's remodelled Reds team is a reminder of what his best Liverpool sides have always been like, says MOTD2 pundit Shay Given.
  • 'Outfought and outrun' - Heckingbottom rues record defeat September 24, 2023
    Paul Heckingbottom says his Sheffield United side were "outfought and outrun" by Newcastle in their record 8-0 defeat at Bramall Lane.
  • Who is player of the year? Garth Crooks' Team of the Week September 24, 2023
    Which players impressed our football pundit Garth Crooks enough to make his latest Team of the Week?
  • Rampant Newcastle put eight past winless Sheff Utd September 24, 2023
    Newcastle match their record Premier League win with a scintillating display as they embarrass winless Sheffield United at Bramall Lane.

Search Manchester Football

Copyright © 2023 · Metro Pro on Genesis Framework · WordPress · Log in