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Manchester United’s Avram Glazer timed his sale of five million shares perfectly to land up to $100M as the prospect of a new shirt sponsor, fans back at Old Trafford and more revenues from the new Champions League have helped the price soar

Manchester United co-chairman Avram Glazer timed the sale of five million shares perfectly to cash in on the club's high value, which analysts estimate has risen by £700 million in 12 months.

Glazer could make up to £72m ($100m) from the shares, which were priced at £14.39 ($20.13m) on the New York Stock Exchange on Thursday and are on offer until Tuesday next week.

The club's stock has climbed steeply in value since March 2020 – an eight-year low – as the market eyes some big pays days in the years ahead.

United's finances have taken a hit as a result of the coronavirus pandemic losing around u00a3100million of their income according to the recent publication of their finances

But to the frustration of Red Devils' fans, the lucrative transaction will bring no benefit whatsoever to the club, which confirmed that position in a statement to the stock exchange.