The Glazers are to sell 5 per cent of their holding in Manchester United which should raise them $150m. A road show to sell the Class A shares will start next week. They sold a tranche of 10 per cent in 2012.
The Glazers are to sell 5 per cent of their holding in Manchester United which should raise them $150m. A road show to sell the Class A shares will start next week. They sold a tranche of 10 per cent in 2012.
They are cashing in on rising confidence in the club following the appointment of Louis van Gaal. He enjoyed a successful World Cup with Holland, but the Premier League is a different kind of challenge and he has been appropriately cautious in his statements and in relation to new player purchases.
The new kit deal with Adidas has also given a boost to confidence, although it has been revealed that the amount involved would be cut by 30 per cent to £52.5m if the club failed to qualify for the Champions League for two consecutive seasons.
The club is now forecasting year end revenues of £429-£434m. £188m-£190m of this would come from commercial revenues, emphasising the key contribution they make to club finances. Broadcast revenues would contribute £134m-£136m.